Garmin Ltd. (GRMN) Misses Q2 EPS by 10c

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Go back to Garmin Ltd. (GRMN) Misses Q2 EPS by 10c

UPDATE: JPMorgan Cuts Garmin (GRMN) to Underweight on Decelerating Growth in Fitness

July 30, 2015 6:37 AM EDT

(Updated - July 30, 2015 10:05 AM EDT)

JPMorgan downgraded Garmin Ltd. (NASDAQ: GRMN) from Neutral to Underweight with a price target of $40.00 (from $42.00). Analyst Paul Coster pointed out decelerating growth in the fitness segment, but he doesn't recommend shorting the stock.

"We are trimming estimates to reflect decelerating growth in the fitness segment, reducing our 2016 PT to $40.00, and downgrading GRMN to Underweight to reflect our view that the... More