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Fly News Breaks for July 30, 2015
GRMN
Jul 30, 2015 | 06:30 EDT
JPMorgan analyst Paul Coster downgraded Garmin to Underweight, the firm's lowest rating, and cut his price target for shares to $40 from $42. The company's fitness segment growth is decelerating, and year-over-year comparisons are getting tougher, Coster tells investors in a post-earnings research note. He expects the Vivofit fitness band maker to underperform peers over the next 6-12 months. Shares of Garmin closed yesterday down 10c to $42.69.
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