UPDATE: Goldman Sachs Raises PT on Garmin to $43

Goldman Sachs raises its price target on Garmin

from $38 to $43 and has a Neutral rating on the company in a research report out today. In the report, Goldman Sachs writes, "Upside risks include slower than expected PND [personal navigation device] declines and a faster ramp in the non-PND segments. Downside risks include faster ASP/margin compression in PNDs or deterioration in the non-PND segments." Shares of Garmin are currently trading at $48.26, down 1.23% from yesterday's close.