Zacks Investment Research upgraded shares of Trimble Navigation Ltd. (TRMB) from UNDERPERFORM to NEUTRAL on October 30, 2013, with a target price of $30.00.
Trimble is an OEM of GPS-based products and control systems. June quarter results beat the Zacks Consensus Estimate and guidance was more or less in-line. While government sequestration concerns remain, improving trends in the domestic construction market, increasing adoption of technology in the agricultural market and well-planned acquisitions in the TMS segment remain secular drivers. Product enhancements and introductions, a re-aligned cost structure, improving mix of software and services revenue, and international expansion are other positives. We therefore upgrade the shares to Neutral.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Trimble Navigation Ltd. (TRMB),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment