TomTom Rises After Rabo Raises Recommendation: Amsterdam Mover
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TomTom NV, Europe’s biggest maker of portable navigation devices, rose to the highest in seven months after Rabo Securities raised its recommendation, citing strong automotive sales and a potential Apple Inc. mapping deal.
TomTom advanced as much as 36 cents, or 9.7 percent to 4.04 euros in Amsterdam, the highest since June. The shares traded 9.3 percent higher at 4.03 euros as of 10:28 a.m., valuing the company at 893 million euros ($1.19 billion). TomTom shares have lost 47 percent in the past 12 months.