Morgan Stanley Sees Stiffer-Than-Expected Fall Competition From Nike For Garmin Ltd.
In a report published Friday, Morgan Stanley analyst James E. Faucette reiterated an Underweight rating on Garmin Ltd. (NASDAQ: GRMN), but removed the $53.00 price target.
In the report, Morgan Stanley noted, “Nike [is] likely to stay active in fitness band market a bit longer than expected, which may make the holiday season even more competitive than we had anticipated.”
Garmin Ltd. closed on Thursday at $52.44.
Latest Ratings for GRMN
|Feb 2016||JP Morgan||Downgrades||Neutral||Underweight|
|Feb 2016||Credit Suisse||Maintains||Underperform|
|Jan 2016||Credit Suisse||Downgrades||Neutral||Underperform|
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