JPMorgan analyst Tami Zakaria raised the firm’s price target on Trimble (TRMB) to $62 from $59 and keeps a Neutral rating on the shares. The analyst views Trimble’s joint venture with Agco (AGCO) as a positive catalyst for both companies. Post the joint venture, Trimble’s recurring revenues will be 55% of total mix versus 49% currently, the analyst tells investors in a research note.
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