Wedbush Morgan Lowers Price Target on Garmin (GRMN)
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Wedbush Morgan lowers its price target on Garmin Ltd. (Nasdaq: GRMN) from $40 to $30 and lowered 2008 and 2009 revenue and EPS estimates. The firm said, "pricing and demand issues to lead to lower guidance and minimal (if any) EPS growth in 2009."
Wedbush also lowered their PND unit and pricing assumptions on Garmin.
Garmin, Ltd. and its subsidiaries design, develop, manufacture, and market global positioning system (GPS)-enabled products and other related navigation, communications, and information products worldwide.
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