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

Piper Jaffray has an Overweight rating and a $39 price target on shares of Telvent Git S.A. TLVT. In a note to clients, Piper Jaffray writes, "We are reiterating our Overweight rating on TLVT shares following the company's 7th annual investor day in NY, though we are shifting our estimates modestly to 2H11 to better reflect project timing. We believe that weak 1Q results could present a more attractive entry point in the stock, as we remain confident in the full-year & FY12 outlook. We believe strong growth in Energy (both in oil & gas transmission monitoring systems and smart grid IT), a 2H11 recovery in Transportation, and progress on SaaS project activity present significant catalysts for TLVT over the next 12-18 months." Shares of TLVT lost 59 cents yesterday to close at $27.90, a loss of 2.07%.