Garmin Rated Sell (GRMN, GS)

Garmin GRMN is expected to announce robust June quarter performance due to a better product mix. In its report on the company, Goldman Sachs GS has stated that the company is likely to beat the consensus revenue estimate of $657 million. It is also likely to surpass EPS estimates of $0.73. The second quarter revenue estimates for the company was raised by 3% to $708 million whereas the GAAP EPS forecast has been increased by 5% to $0.76. The price target for Garmin (GRMN) has been set at $28, which is based on a sum of the parts analysis. The company has been given a “Sell” rating.