Jefferies Raises Price Target On Telvent GIT SA

According to Jefferies, Telvent GIT SA TLVT energy continues to lead the way. Jefferies said that TLVT had lighter topline but solid operating results, turning in PF EPS of €0.24 vs. the est. of €0.18. “Revenue was stronger in Energy and weaker in Transportation, while Environment was hit by the work stoppage in Libya. TLVT reiterated FY11 guidance, has 72% of revenue in backlog, and recently won a $127M gas pipeline contract with the CPC in addition to several others. We reiterate our Buy rating and raise our PT to $34.” Telvent GIT SA closed yesterday at $30.74.