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UPDATE: J.P. Morgan Upgrades Trimble Navigation Limited to Reflect Positive Momentum

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In a report published Wednesday, J.P. Morgan analyst Paul Coster upgraded the rating on Trimble Navigation Limited (NASDAQ: TRMB) from Neutral to Overweight, and raised the price target from $36.00 to $43.00.

In the report, J.P. Morgan noted, “We are raising estimates slightly to reflect positive momentum in E&C and improved margins from the firm's strategic shift into higher-value software and services, and we are upgrading TRMB to Overweight from Neutral. Improving cyclical prospects in construction and in enterprise IT bode well for TRMB's E&C and mobile segments heading into 2014, and the firm's long-term growth prospects remain compelling owing to the transition into geospatial business intelligence, which we view as a secular growth opportunity (see report, published today).”

Trimble Navigation Limited closed on Tuesday at $38.99.

Latest Ratings for TRMB

DateFirmActionFromTo
Jun 2016Raymond JamesInitiates Coverage onOutperform
May 2016FBR CapitalInitiates Coverage onOutperform
Feb 2016Goldman SachsUpgradesBuyConviction Buy

View More Analyst Ratings for TRMB
View the Latest Analyst Ratings

Posted-In: J.P. Morgan Paul CosterAnalyst Color Upgrades Analyst Ratings

 

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