Dougherty & Co Upgrades Garmin Ltd. (GRMN) to Buy; Reality Sets In...Shares Oversold on Apple (AAPL) News
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Price: $35.00 -0.99%
Rating Summary:
6 Buy, 3 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Rating Summary:
6 Buy, 3 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Trade GRMN Now!
Dougherty & Co upgraded Garmin Ltd. (NASDAQ: GRMN) from Neutral to Buy with a price target of $47.00.
Analyst, Charlie Anderson, said, "Upgrading based on valuation, as we believe the stock was unfairly punished Monday after Apple’s (Nasdaq: AAPL) well-telegraphed unveiling of turn-by-turn navigation for iOS devices."
Anderson said that Apple's new Map app is impressive and looks easy to use (tied in with Siri), however, the context of the headwind to Garmin is equal to about $0-$3 per share. Garmin feel $3.58 yesterday (and is moving up today). Bottomline: Shares of GRMN are oversold.
For an analyst ratings summary and ratings history on Garmin Ltd. click here. For more ratings news on Garmin Ltd. click here.
Shares of Garmin Ltd. closed at $38.20 yesterday, with a 52 week range of $29.23-$50.67.
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Analyst, Charlie Anderson, said, "Upgrading based on valuation, as we believe the stock was unfairly punished Monday after Apple’s (Nasdaq: AAPL) well-telegraphed unveiling of turn-by-turn navigation for iOS devices."
Anderson said that Apple's new Map app is impressive and looks easy to use (tied in with Siri), however, the context of the headwind to Garmin is equal to about $0-$3 per share. Garmin feel $3.58 yesterday (and is moving up today). Bottomline: Shares of GRMN are oversold.
For an analyst ratings summary and ratings history on Garmin Ltd. click here. For more ratings news on Garmin Ltd. click here.
Shares of Garmin Ltd. closed at $38.20 yesterday, with a 52 week range of $29.23-$50.67.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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