JPMorgan analyst Paul Chung upgraded Garmin to Overweight from Neutral with an unchanged price target of $100. Garmin represents a "high quality stock to own" in a volatile market and low interest rate environment with a dividend yield of 2.8%, $2.6B in net cash and no debt, Chung tells investors in a research note. Further, the company's "conservative" guidance provides a "nice cushion" to beat and raise throughout the year, and weather any component shortages out of China, adds the analyst. He recommends taking advantage of 15% pullback in Garmin shares since the company reported "solid" Q4 results.