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Bull of the Day

Garmin Ltd. (GRMN)

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December 18, 2008 | Comment(s): 0
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GRMN

Garmin Ltd. (GRMN) - Garmin is an OEM [original equipment manufacturer] of GPS-based equipment. September quarter results were in-line with the consensus on both the top and bottom lines. All segments were up double-digits in 2007, and are expected to be up again in 2008.

We note that pricing pressures continue to intensify, negating some of the growth in units. Management is optimistic about material prices offsetting ASP pressures in 2008. We see declining profitability for the company.

However, the shares appear cheap, given the current valuation. Consequently, we are reiterating our Buy rating on GRMN shares.

Garmin Ltd. (GRMN) : FULL ANALYST REPORT

Bull of the Day
Every day we feature one stock with a Zacks Recommendation of Buy that is set to outperform over the next 6+ months. We also provide you with free access to the in-depth research report on the stock. If you would like to see all our Buy rated stocks and in-depth research reports, then check out  Zacks Premium.

Read the full analyst report on GRMN

 

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