Trimble price target raised to $65 from $59 at Oppenheimer

Oppenheimer raised the firm’s price target on Trimble to $65 from $59 and keeps an Outperform rating on the shares. The firm believes Trimble is coming into the year from a position of relative strength and return to margin expansion and EPS growth. With a number of catalysts on the horizon, Oppenheimer believes investors are looking through the weak Q1 guide toward a more streamlined portfolio with ample growth runway within its existing customer base, reduced model transition overhang, and a healthier balance sheet.