JPMorgan upgraded Trimble (TRMB) to Overweight from Neutral with a price target of $92, up from $74, ahead of the company’s investor day on December 10. The firm expects acceleration in Trimble’s organic growth on a cyclical hardware recovery and stable software growth. It thinks management will update its long term targets over the next five years with annual organic revenue high-single-digit at the mid-point and low-double-digit annual recurring revenue growth.
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