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Fly News Breaks for April 24, 2018
TRMB
Apr 24, 2018 | 06:22 EDT
Berenberg analyst Gal Munda raised his price target for Trimble to $46 from $44 citing the "strategically important" acquisition of Viewpoint. The deal will likely add around $200M to revenue and $50M to operating cash flow in 2019, Munda tells investors in a research note. The analyst calls Viewpoint an "incredibly attractive asset" given its exposure to a underpenetrated and structurally growing market and very high recurring revenues. Munda keeps a Buy rating on Trimble.
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