In a report published Friday, Morgan Stanley analyst James E. Faucette reiterated an Underweight rating on Garmin Ltd. 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.
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