Garmin price target lowered to $152 from $188 at Barclays

Barclays lowered the firm’s price target on Garmin (GRMN) to $152 from $188 and keeps an Underweight rating on the shares. The company reported a mixed quarter with higher revenues offsetting lower earnings on worse Fitness margins, the analyst tells investors in a research note. The firm questions the sustainability of the stock’s “premium multiple” given Garmin’s slower growth and flattish margin profiles for 2025 amid tougher compares and headwinds for its auto segment. Decelerating sales growth and flat-to-down operating margins have historically resulted in a valuation de-rating, given Garmin’s “rich valuation,” contends Barclays.