Wednesday May 7, 01:48 PM
Tele Atlas downgraded to "sell"
By SNS Securities
LONDON, May 7 (newratings.com) - Analysts at SNS Securities downgrade Tele Atlas NV (ticker: TA-EUR) from "buy" to "sell."
In a research note published this morning, the analysts mention that the company's share price has appreciated significantly
in the past two months and is very near to the E30 offer price made by Tom Tom (Amsterdam: TOM2.AS - news) . There is limited upside to Tele Atlas (Amsterdam: TA.AS - news) ' share price, the analysts believe. Although the EU is likely to approve the deal, its decision to block the merger might result in a significant decline in Tele Atlas' share price, SNS Securities says.
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