Morgan Stanley analyst Erik Woodring lowered the firm’s price target on Garmin (GRMN) to $159 from $204 and keeps an Underweight rating on the shares. Among the firm’s IT Hardware coverage, the analyst reduced FY25 and FY26 EPS estimates by 15%-18% and price targets by 30% on average to account for slowing growth and higher tariffs.
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Read More on GRMN:
- Garmin price target lowered to $175 from $185 at BofA
- Garmin Faces Sell Rating Amid Overvaluation and Macroeconomic Challenges
- Morgan Stanley says Dell among IT Hardware names exposed to ‘calamitous’ tariffs
- Garmin exec Lyman sells 2,829 shares
- Garmin announces upcoming supplemental type certificate approval of GFC 600H
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