Garmin soars to record high on Q4 beat, cheery 2025 outlook
19/02/2025 15:17
** Garmin's GRMN.N stock soars 13% to record high of $242.78
and is top S&P 500 performer on Weds after Swiss navigation
device maker's upbeat report
** GRMN last up 10.8% at $237.92 and tracking biggest one-day
pct advance since 23% gain on Oct 30, after co's strong Q3
report
** Co early Weds forecast 2025 rev and profits above consensus,
betting on continued momentum in its outdoor and auto OEM
segments
** For Dec qtr, it posted rev of $1.82 bln and adj EPS of
$2.41, topping LSEG estimates of $1.7 bln/$2.03
** Of 10 analysts covering GRMN, recommendation breakdown is
3 "strong buy" or "buy", 4 "hold" and 3 "sell" ratings - LSEG
** Median PT of $183.06 up from $164 three months ago
** With move on the session, shares up 15% YTD and have
nearly doubled over the past 12 months
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))