Garmin ( (GRMN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Garmin’s share weakness comes despite upbeat signals from analysts, who argue that the stock’s upside now looks constrained compared with rivals. BofA kept its Underperform rating in place, warning that recent strength may already reflect much of the company’s good news.
Even so, BofA raised its price target on Garmin to $220 and lifted its adjusted EPS estimates. The bank pointed to the company’s strong recent performance, a solid pipeline of upcoming product launches, and a resilient customer base as reasons for the improved forecasts.
More about Garmin
YTD Price Performance: 18.22%
Average Trading Volume: 1,058,047
Technical Sentiment Signal: Strong Buy
Current Market Cap: $45.67B
For further insights into GRMN stock on TipRanks’ Stock Analysis page.
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