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Fly News Breaks for September 20, 2018
GRMN
Sep 20, 2018 | 09:14 EDT
Longbow analyst Joe Wittine raised his Garmin price target to $75 from $72 and kept his Buy rating, saying his sell-through indicators suggest that the company's wearables sales will exceed consensus forecasts. The analyst is positive on Garmin's Fitness segment, raising his forecast based on the web search data in the quarter, and also sees the Outdoor segment results above the Street in spite of the channel fill timing related trim. Wittine believes that Garmin can deliver sales and earnings beats through 2019 thanks to "peak ADS-B installs, further expansion in advanced wearables, and some narrowing in Auto declines".
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