Trimble Navigation (TRMB) Price Target Raised To $55 By Deutsche Bank
Friday, February 03, 2022 3:16 PM

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.