Raymond James analyst Brian Gesuale downgraded Trimble to Market Perform from Outperform without a price target following its announced acquisition of Transporeon for EUR1.88B. Gesuale believes it is "inopportune timing" to consummate a deal, pay full freight and significant premium to peers, and take leverage to a decade high of greater than 3x EBITDA, the analyst tells investors in a research note.
Published first on TheFly
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