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A Rio Tinto-controlled company in Mongolia has asked police to help with a “comprehensive internal investigation” into allegations of misconduct and corruption.

Oyu Tolgoi LLC, which is 66 per cent owned by Rio and owns the Oyu Tolgoi copper mine, confirmed the investigation was underway after Mongolian media reported that police had raided the homes of some employees in the procurement division.

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Trimble (TRMB) shares edged slightly higher this week, gaining about 1% over the past seven days. The stock has posted a strong 34% total return over the past year, reflecting sustained investor interest in the company’s performance.

See our latest analysis for Trimble.

Momentum seems to be building for Trimble as its recent 5.2% seven-day share price return adds to an impressive 33.7% total shareholder return over the past year. The stock’s latest moves suggest investors are increasingly optimistic about its longer-term growth outlook.

If these positive trends have you thinking bigger, now could be the perfect time to discover fast growing stocks with high insider ownership.

With shares climbing and fundamentals looking solid, investors face a classic dilemma: is Trimble still undervalued today, or has the recent rally already captured the company’s growth prospects, leaving limited upside from here?

Trimble’s most widely followed narrative suggests the company’s fair value lands well above its recent close, pointing to continued upside in the eyes of analysts. The current gap between the share price and narrative valuation hints at a belief in ongoing growth and resilience despite sector headwinds.

Accelerating adoption of AI-enabled, cloud-based solutions (such as ProjectSight, autonomous procurement, and analytics in project management and transportation) is increasing customer value and workflow integration. This trend supports higher recurring software revenues and improved net margins. The migration from hardware-focused, CapEx models to bundled, subscription-based offerings, even in traditionally hardware-oriented segments, expands the addressable market, improves revenue visibility, and increases the recurring revenue mix. This drives greater predictability and enhanced long-term earnings.

Read the complete narrative.

Want to see which assumptions power this valuation? Discover why analysts think Trimble’s subscription model and digital transformation could reshape its growth profile. See the key ingredients behind this bold price target and decide if the narrative aligns with your outlook.

Result: Fair Value of $97.70 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, persistent macroeconomic headwinds or stalled adoption of Trimble’s subscription offerings could undermine these bullish expectations and slow the company’s progress.

Find out about the key risks to this Trimble narrative.

Looking at Trimble’s valuation through the lens of its price-to-earnings multiple provides a much less optimistic picture. At 67.6x, it is far above both its peers (44.8x) and the industry average (25.9x), as well as the 36.1x fair ratio the market might eventually demand. That premium signals potential valuation risk if expectations fall short. Is the market pricing in too much growth already?

See what the numbers say about this price — find out in our valuation breakdown.

If you see things differently or want to dive into the numbers yourself, you can craft a personal Trimble narrative in just a few minutes. Do it your way.

A great starting point for your Trimble research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include TRMB.

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