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Marshall believes the stock's year-to-date multiple expansion necessitates a greater level of earnings upside than would likely be achievable as the company laps tougher comps heading into FY22.
Marshall now forecasts about 7% year-over-year revenue and 15% year-over-year EPS growth for Trimble in FY22 but thinks greater than $3.25 in FY22 EPS, or about 10% above her estimate, will be needed to drive upside from current levels.
Trimble provides location-based solutions used in global positioning systems (GPS), laser, optical, and inertial technologies.
Price Action: TRMB shares traded lower by 0.72% at $89.87 on the last check Thursday.
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