Needham & Company Maintains a 'Buy' on Trimble Navigation (TRMB); Secular Growth Trumps Macro Headwinds

Needham & Company maintains a 'Buy' on Trimble Navigation (NASDAQ: TRMB) price target of $58.00.

Analyst, Richard Valera, said, "Notwithstanding recent concerns about macro headwinds in the EU region and severe drought conditions in NA, Trimble continued to demonstrate impressive organic growth (estimated mid-teens) in 2Q, as the secular penetration of its products and growth in some relatively underpenetrated emerging markets appeared to trump the obvious macro headwinds. While we remain watchful of any signs of further deterioration of the EU or NA drought situations, we maintain our Buy."

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 $44.60 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Trimble Navigation (TRMB) PT Lowered to $73 at Bernstein SocGen Group
• Globant S.A. (GLOB) PT Lowered to $45 at Needham
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform