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Fly News Breaks for January 27, 2020
GRMN
Jan 27, 2020 | 20:15 EDT
Credit Suisse analyst Robert Spingam upgraded Garmin to Neutral from Underperform with a price target of $100, up from $73. The analyst notes that the headwinds for ADS-B sales in the Aviation segment are less severe than he previously expected, and when combined with other favorable dynamics, he sees the segment sustaining positive growth in FY20-21. Spingam further points to the potential bottoming in the Auto segment sales and the continued strength in Garmin's other segments, allowing the company to retain a mid-single digit growth rate in 2020 and beyond.
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