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Trimble’s Growth Catalysts: Analyst Upgrades Stock On Strong Growth Potential Amid Debt Reduction And Buyback

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Piper Sandler analyst Clarke Jeffries upgraded Trimble Inc. (NASDAQ:TRMB) to Overweight from Neutral, raising the price target to $68 from $51.

The analyst upgraded the stock with a focus on upcoming catalysts like resegmentation in the first half of the year, debt paydown worth $1.1 billion, up to $800 million of share repurchases in 2024.

Yesterday, Trimble beat fourth-quarter expectations with 9% revenue growth and strong recurring revenue.

While FY24 revenue guidance was below the analyst’s …

Full story available on Benzinga.com

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