Piper Jaffray Raises Trimble Navigation Estimates And PT

price target for Trimble Navigation Limited TRMB, following a healthy 3Q beat, in-line guidance for 4Q, and a rosy outlook for 2011. “Continued strength in E&C and a recovery in Field Solutions drove the 3Q upside,” Piper Jaffray writes. “Top-line growth for 2011 is expected to approach 20%, which far exceeded our expectations. We are taking our FY11 EPS estimate from $1.63 to $1.76 and our price target to $44.” Trimble Navigation currently trades at $35.58.