Deutsche Bank (DB) lifted its price target on Trimble Navigation Ltd.
(NASDAQ:TRMB) to $55 from $50, following the company's fourth-quarter
results and outlook.
The bank thinks underpenetrated end-markets and margin expansion potential merit a "Buy" rating.
Trimble reported quarterly revenue of $435 million ahead of DB
estimate of $416 million and consensus of $419 million. Pro-forma EPS of
$0.54 was also ahead of the bank's estimate and consensus of $0.48. The
company saw growth in revenues and margins across all segments, DB
noted.
TRMB shares, which have been trading between $31.88 and $52.50 over the past year, advanced 5.9% to $51.00 on Friday.
