TRMB - Trimble Could See Debt Reduction Buyback Boost From AGCO Deal Proceeds Analyst Upgrades Stock | Benzinga
Raymond James analyst Brian Gesuale upgraded Trimble Inc (NASDAQ: TRMB) rating to Outperform from Market Perform at a maintained price target of $65.
The analyst is bullish on the stock following Trimble's joint venture deal with AGCO Corp (NYSE: AGCO) to sell 85% interest in its Ag assets and technologies portfolio for $2.0 billion and the contribution of JCA Technologies.
Related: AGCO's Trimble Ag JV Acquisition Is A Value-Creation Moment, Says Analyst
Also, the analyst sees the divestiture multiple of 12.7x as fair, ...