Needham & Company Raises PT on Trimble Navigation (TRMB); Cyclical and Secular Trends Appear Intact
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Price: $59.25 +3.97%
Rating Summary:
16 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
Rating Summary:
16 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
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Needham & Company maintains a 'Buy' on Trimble Navigation (NASDAQ: TRMB) price target raised from $45 to $57.
Analyst, Richard Valera, said, "Notwithstanding recent concerns about potential market saturation in Trimble’s key E&C and Ag segments, we believe the secular growth drivers remain intact, especially in relatively underpenetrated international markets. As well, it appears that recent cyclical trends remain healthy as evidenced by CAT’s strong 4Q report and outlook, with the admitted caveat that these could be derailed if there is a major debt-related dislocation in the EU. We maintain our Buy rating while increasing our PT to $57 as we shift to our new 2013 NG EPS estimate and apply the average historical NTM EPS multiple of 20-21x."
"We are increasing our 2012 revenue estimate to $1.96B from $1.90B while EPS drop to $2.44 from $2.47 due to a $0.07 tax rate headwind. We introduce 2013 estimates of $2.18B and $2.75 NG EPS."
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 $48.14 yesterday.
Analyst, Richard Valera, said, "Notwithstanding recent concerns about potential market saturation in Trimble’s key E&C and Ag segments, we believe the secular growth drivers remain intact, especially in relatively underpenetrated international markets. As well, it appears that recent cyclical trends remain healthy as evidenced by CAT’s strong 4Q report and outlook, with the admitted caveat that these could be derailed if there is a major debt-related dislocation in the EU. We maintain our Buy rating while increasing our PT to $57 as we shift to our new 2013 NG EPS estimate and apply the average historical NTM EPS multiple of 20-21x."
"We are increasing our 2012 revenue estimate to $1.96B from $1.90B while EPS drop to $2.44 from $2.47 due to a $0.07 tax rate headwind. We introduce 2013 estimates of $2.18B and $2.75 NG EPS."
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 $48.14 yesterday.
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