Garmin (GRMN) Sees Early Pressure on CES Takeaway
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Price: $241.39 -0.91%
Rating Summary:
7 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 15
Rating Summary:
7 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 15
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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.
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.
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