UPDATE: Dougherty & Company Raises Trimble Navigation's PT

According to a research report published this morning, Dougherty & Company has increased Trimble Navigation's (NASDAQ: TRMB) PT from $57 to $62.

In the report, Dougherty & Company mentioned, "Trimble continues to prove that its location technology and industry-specific software is a productivity lever that generates strong ROI for multiple users across multiple applications and geographies. Several near-term tailwinds lead us to believe there is continued upside value to shares. Those include increasing subscription and software revenue as a percentage of the total, which helps to drive margins, expanded product integration through sound acquisitions and innovation, and nine sequential quarters of double-digit growth in spite of no meaningful contribution from residential and commercial construction."

Dougherty & Company maintains its Buy rating on Trimble Navigation, which is currently trading at $51.67.

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