JPMorgan has adjusted its price target for Garmin (GRMN, Financial), reducing it from $260 to $220. Despite this revision, the investment firm has maintained a Neutral rating on the stock. This change comes as JPMorgan re-evaluates its hardware and networking models, factoring in the challenging economic landscape influenced by tariff-related uncertainties.
The adjustment reflects expectations of a wider economic slowdown, which is anticipated to dampen demand across various sectors. Analysts at JPMorgan foresee a decrease in consumer spending and a reduction in purchases by enterprises and telecom clients, owing to these macroeconomic pressures.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Garmin Ltd (GRMN, Financial) is $207.26 with a high estimate of $265.00 and a low estimate of $159.00. The average target implies an upside of 9.68% from the current price of $188.96. More detailed estimate data can be found on the Garmin Ltd (GRMN) Forecast page.
Based on the consensus recommendation from 10 brokerage firms, Garmin Ltd's (GRMN, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Garmin Ltd (GRMN, Financial) in one year is $153.07, suggesting a downside of 18.99% from the current price of $188.96. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Garmin Ltd (GRMN) Summary page.
