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
|Aug 2014||Baird||Initiates Coverage on||Neutral|
|Jul 2014||JP Morgan||Maintains||Underweight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.