BofA analyst Ronald Epstein lowered the firm’s price target on Garmin (GRMN) to $175 from $185 and keeps an Underperform rating on the shares. The firm is lowering its 2025 adjusted EPS forecast to $8.55 from $9.15, but notes that it continues to expect stronger growth in Fitness and Outdoors than consensus of $7.95 implies. However, it also sees the current uncertainty in the macro environment slowing sales in the first half 2025 and limiting incremental buyers as the consumer cycle decelerates, the analyst tells investors.
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