Fleetmatics climbs, FBR initiates at Outperform on 2014 growth opportunities


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.

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Comments (1)
  • jimheger
    , contributor
    Comment (1) | Send Message
     
    This is an interesting space and it's early in the telematics business.
    Other players here that should be watched are MiX Telematics and, my favorite, Vecima Networks. Vecima has had a tough time getting its product to market, but could very quickly become a big player.
    It has been a leader in the development & manufacture of complex electronics for many years and the telematics business falls right into its wheelhouse.
    20 Dec 2013, 11:48 AM Reply Like
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