Fleetmatics climbs, FBR initiates at Outperform on 2014 growth opportunities

|About: Fleetmatics Group PLC (FLTX)|By:, SA News Editor

Fleetmatics (FLTX +3.4%) shares climb after FBR capital initiates the stock at Outperform with a PT of $50.

Analyst Scott Thompson's bullish thesis is centered on "a broad and strong pipeline of growth opportunities in 2014." Given Fleetmatics' first international move outside of the U.K. and Ireland, Thompson thinks guidance and consensus will prove conservative.