UPDATE - Canaccord Genuity Upgraded Garmin (GRMN); Nearing the PND Trough; Other Businesses Should Provide Good Earnings Power

UPDATE - Canaccord Genuity upgraded Garmin Ltd. (NASDAQ: GRMN) from Hold to Buy, price target raised from $37 to $47.50.

Analyst, Jeff Rath, said, "We believe that GRMN’s core PND business is only a couple of quarters away from troughing and see the other businesses providing good earnings power...Non-Auto/Mobile segments continue to grow despite global recessionary pressures and underline GRMN’s strengths of rapid product cycle and innovations in niche markets."

"We believe GRMN’s solid dividend allows us to be early on this upgrade, as we get paid to wait."

To see more ratings on GRMN, Click Here

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