Trimble price target raised to $84 from $73 at Piper Sandler

Piper Sandler analyst Clarke Jeffries raised the firm’s price target on Trimble (TRMB) to $84 from $73 and keeps an Overweight rating on the shares. The firm says Q3 delivered across two fronts, namely growth and profitability. Organic growth is performing above the multi-year target range and EBIT margins of the continuing business exiting 2024 appear to be about 27% with the stage set for 100+ bps of annual expansion going forward, Piper adds.