Needham & Company Maintains a 'Buy' on Trimble Navigation (TRMB); Solid 3Q11 Results and Outlook as Secular Growth Continues to Trump Macro Headwinds
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Price: $57.60 +0.10%
Rating Summary:
16 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Trimble Navigation (NASDAQ: TRMB) price target of $45.00.
Needham analyst says, "We consider Trimble one of the highest quality companies in our coverage universe, with excellent long-term secular growth prospects. While macro headwinds clearly remain a concern, thus far it appears the strong secular growth trends in the company’s productivity-enhancing products, not to mention seemingly still solid cyclical demand, at least as reflected by heavy equipment providers such as Caterpillar (NYSE: CAT)(NR), appear to be trumping these potential headwinds."
"We adjust our estimates for 3Q results and the inclusion of the Peoplnet acquisition but net, net our 2012 EPS are unchanged. 2011 goes to $1.63B/$2.08 from $1.61B/$2.04 and 2012 goes to $1.90B/$2.47."
For more ratings news on Trimble Navigation click here and for the rating history of Trimble Navigation click here.
Shares of Trimble Navigation closed at $38.58 yesterday.
Needham analyst says, "We consider Trimble one of the highest quality companies in our coverage universe, with excellent long-term secular growth prospects. While macro headwinds clearly remain a concern, thus far it appears the strong secular growth trends in the company’s productivity-enhancing products, not to mention seemingly still solid cyclical demand, at least as reflected by heavy equipment providers such as Caterpillar (NYSE: CAT)(NR), appear to be trumping these potential headwinds."
"We adjust our estimates for 3Q results and the inclusion of the Peoplnet acquisition but net, net our 2012 EPS are unchanged. 2011 goes to $1.63B/$2.08 from $1.61B/$2.04 and 2012 goes to $1.90B/$2.47."
For more ratings news on Trimble Navigation click here and for the rating history of Trimble Navigation click here.
Shares of Trimble Navigation closed at $38.58 yesterday.
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