Trimble price target raised to $88 from $77 at Oppenheimer

Oppenheimer analyst Kristen Owen raised the firm’s price target on Trimble (TRMB) to $88 from $77 and keeps an Outperform rating on the shares. Having long discussed the transformation of Trimble’s revenue base from hardware to software, the firm believes the portfolio actions taken over the last 12 months are what will ultimately sustain its re-rating. The simplicity of the 2027 targets is compelling for growth investors, and valuation remains attractive relative to software peers. Targets appear achievable, embedding a degree of capital allocation flexibility between growth and margin as market conditions evolve, Oppenheimer adds.