Piper Jaffray Overweight On Telvent Git S.A. (TLVT)

Piper Jaffray has an Overweight rating and a $34 price target on shares of Telvent Git S.A. TLVT. In the research note, Piper Jaffray writes, "We reiterate our Overweight rating and price target of $34 on TLVT shares following our recent visit to Telvent China's headquarters in Beijing. While China currently represents ~4% of the company's overall revenue, we see tremendous potential for growth. Management was very upbeat about the project pipeline – containing dozens of projects across the country – and is deploying resources to capitalize on key trends in traffic congestion, infrastructure development, and smart grid investments – each of which fit well into Telvent's system offerings." Shares of TLVT gained 6 cents on Friday to close at $26.42.