Northcoast analyst Ryan Connors downgraded Trimble to Sell from Neutral with a $40 price target. The analyst believes the company’s acquisiotn-driven growth model does not create economic value over time. In addition, Trimble’s free cash flow after deals appears likely to turn negative in 2023, the analyst tells investors in a research note. It believes the stock’s risks now outweigh the rewards.
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Published first on TheFly
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