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Morgan Stanley Sees Stiffer-Than-Expected Fall Competition From Nike For Garmin Ltd.

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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

DateFirmActionFromTo
Jul 2016JP MorganUpgradesUnderweightNeutral
Jul 2016Morgan StanleyMaintainsEqual-weight
Feb 2016JP MorganDowngradesNeutralUnderweight

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Posted-In: James E. Faucette Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

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