In a report released today, Ivan Feinseth from Tigress Financial reiterated a Buy rating on Garmin (GRMN – Research Report), with a price target of $285.00.
Ivan Feinseth has given his Buy rating due to a combination of factors that highlight Garmin’s strong market position and growth potential. Garmin’s continuous innovation and development of new products, including the introduction of new halo product categories, are expected to open new markets and drive revenue and cash flow growth, thereby enhancing shareholder value.
Garmin’s integrated manufacturing capabilities contribute to its ability to innovate and rapidly develop products, providing a competitive edge. Additionally, Garmin’s robust balance sheet and cash flow allow for ongoing investment in product development and strategic acquisitions, as well as increasing shareholder returns through dividends and share repurchases. These factors collectively support the Buy rating and the increased 12-month target price.
Based on the recent corporate insider activity of 99 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GRMN in relation to earlier this year.