** Navigation equipment maker Trimble's TRMB.O shares rise 1.3% to $81.19 premarket

** KeyBanc upgrades stock's rating to "overweight" from "sector weight"

** Brokerage believes momentum in TRMB's annualized recurring revenue is sustainable as co's construction software portfolio has "ample runway to drive cross-sell and capture new logos"

** Average rating of 15 analysts is "buy"; median PT is $99 - data compiled by LSEG

** As of last close, stock up 13.5% this year

(Reporting by Anhata Rooprai in Bengaluru)

((Anhata.Rooprai@thomsonreuters.com))