Wedbush Reiterates Outperform as Trimble's (TRMB) 4Q Results Show Confidence in Growth Trajectory

Wedbush reiterated an Outperform rating and $28.00 price target on Trimble Navigation (NASDAQ: TRMB) following the company's 4Q earnings report. The company reported revenues of $559.7 million and adjusted EPS of $0.27. This compares to consensus revenue and EPS estimates of $544.4 million and $0.24, respectively. Given the better-than-expected topline results, particularly in the Field Solutions segment, there appears to be greater confidence in the growth trajectory.

Analyst David Rose commented, "We believe recent results provide further evidence Trimble is well positioned to benefit from the increasing demand to drive productivity through mobile connectivity across a number of industries. In our view, the ongoing strategy to drive margins and reignite growth in 2016 is playing out, making Trimble one of the more attractive industrial technology companies, with an increasing mix of high-margin software and subscription-based services."

For an analyst ratings summary and ratings history on Trimble Navigation click here. For more ratings news on Trimble Navigation click here.

Shares of Trimble Navigation closed at $18.82 yesterday.

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