Oppenheimer Maintains Outperform on Trimble Navigation (TRMB)

Oppenheimer is out with its report today on Trimble Navigation TRMB, maintaining Outperform.

In a note to clients, Oppenheimer writes, "Trimble may no longer be cheap, but we believe it continues to offer investors a valuable and rare combination of long-term secular growth with a relatively low-risk profile. We see the stock's recent softness as offering an attractive initial entry point; we would be aggressive buyers in the low-mid $40s. Our estimates are unchanged pending quarter-end channel checks."

Oppenheimer maintains a $53 PT on TRMB.

At the time of posting, shares of TRMB were trading at $47.08, up 0.34% from Thursday's close.