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Trimble Navigation Limited (TRMB) Maintains Buy Rating

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Analysts Richard Valera and Patrick O’ Brien at Needham have maintained their Buy rating for Trimble Navigation Limited (NASDAQ: TRMB).

The company reported revenue of $278 million and EPS of $0.21 for the fourth quarter beating analysts’ estimate of $268 million and $0.20. The revenue from E&C rose 8% year-over-year to $154 million. The revenue from TFS was $57 million, a 2% decline, but ahead of analysts’ forecast.

The results from TMS came in below analysts’ expectation. The company issued a mixed guidance for the first quarter of 2010. The company expects the revenue to be in the range of $308-$313 million in the first quarter. The management at Trimble navigation is confident of double-digit top line growth in 2010.

Analysts have raised the 2010 revenue estimate from $1.22 billion to $1.24 billion. The EPS estimate has been lowered from $1.32 to $1.26. Analysts at Needham have raised the price target for Trimble Navigation Limited from $27 to $28.

 

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Posted-In: Needham Patrick O’ Brien Richard ValeraAnalyst Color Price Target Analyst Ratings

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