Barclays analyst George Wang raised the firm’s price target on Garmin (GRMN) to $158 from $133 and keeps an Underweight rating on the shares. The company beat fiscal Q3 revenue and earnings estimates, primarily led by Wearables segment, the analyst tells investors in a research note. However, the firm questions the sustainability of Garmin’s strong growth and margin profiles into 2025 as it models decelerating sales with margin compression given headwinds across some end markets.
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