Telvent (Nasdaq:TLVT) Gross Margins Impressive

Telvent GIT (Nasdaq:TLVT) expansion of its gross margins has impressed
Canaccord Genuity, which reiterates a "Buy" rating on the company.

Canaccord said, "Our bull thesis remains intact as management’s SaaS strategy drives impressive gross margin expansion. Near term, we keep our LC & USD estimates deliberately conservative into 2011, as end-market demand firms, but remains variable (Energy up, Trans mixed & Spain resilient)."

Telvent closed Friday's trading at $23.42, gaining $0.08, or 0.34 percent. Canaccord has a price target of $32 on them. Trading volume was close to the 3-month daily average.