Trimble initiated with an Overweight at Barclays

Barclays analyst Guy Hardwick initiated coverage of Trimble (TRMB) with an Overweight rating and $100 price target The investment thesis on the stock is not fully appreciated by investors as Trimble continues to transform its business model from a hardware-centric positioning technology company into a software solutions provider, the analyst tells investors in a research note. Trimble should reach or exceed its 2027 “3-4-30” targets of $3B in annualized recurring revenue, $4B in sales and 30% EBITDA margin, the firm added.