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 estimate, the primary difference was the timing of the transaction close & a lower Ag run-rate in th…
