Morgan Stanley Upgrades Garmin (GRMN), Raises Price Target to $252 from $195

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Morgan Stanley upgraded Garmin (GRMN) to Equal Weight from Underweight and increased its price target to $252 from $195, indicating that its previous negative thesis has largely been addressed. This upgrade follows Garmin’s stronger-than-expected 2026 revenue and margin guidance, which the firm views as conservative. The company reported record 2025 revenue of $7.246 billion, proposed a 17% dividend increase, and announced a $500 million share repurchase program, reinforcing its financial strength.

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