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This Analyst Sees 17% Downside In Trimble - Read Why

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·1 min read
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  • Morgan Stanley analyst Meta Marshall downgraded Trimble Inc (NASDAQ: TRMB) to Underweight from Equal Weight with a price target of $74, down from $80, implying a 17.6% downside.

  • 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.

Latest Ratings for TRMB

Sep 2021

Morgan Stanley

Downgrades

Equal-Weight

Underweight

May 2021

Baird

Maintains

Outperform

May 2021

Morgan Stanley

Maintains

Equal-Weight

View More Analyst Ratings for TRMB
View the Latest Analyst Ratings

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