Garmin (GRMN) Sees Early Pressure on CES Takeaway

January 9, 2013 9:42 AM EST Send to a Friend
Get Alerts GRMN Hot Sheet
Price: $55.20 +1.96%

Rating Summary:
    9 Buy, 7 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 44 | New: 4
Trade GRMN Now!
Join SI Premium – FREE
Garmin (NASDAQ: GRMN) sees early pressure. Shares are down 3.2%.

This morning, Goldman Sachs offered a takeaway from CES meetings with the company.

Garmin expects its PND units to decline in line with the market at 15%-20% in 2013, implying potential downside to our current estimate for a market unit decline of 11% and Garmin’s unit decline of 7%. The company may discuss capital allocation, including a potential buyback, on its 4Q earnings call.

The firm maintained a Sell rating.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Trader Talk

Related Entities

Earnings

Add Your Comment