Deutsche Bank says fears about Garmin (GRMN) strategic position are overwrought
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Deutsche Bank comments on Garmin (Nasdaq: GRMN), saying we think fears about GRMN's strategic position are overwrought, especially with regard to pricing and data availability. The firm said, "We spoke with company contacts and came away unchanged in our view that they continue to consider all options. As indicated in our note earlier this week, we believe GRMN has four options at this point: 1) do nothing; 2) build its own network; 3) counter for Tele Atlas; 4) counter for Navteq. We think a reasonable approach would be to keep all options on the table pending some resolution. It may take some time for a response to emerge, but this should not be viewed as a competitive weakness, in our opinion." The firm reiterates their Buy rating.
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