J.P. Morgan Establishes a Price Target On Garmin Of $29.50

According to J.P. Morgan, Garmin GRMN price target is raise to $28.50. J.P. Morgan said that it believes there could be downside to GRMN estimates for the upcoming 2Q11 results and FY11 guidance. “We are establishing a December 2012 price target of $29.50. Maintain Underweight.” Garmin closed yesterday at $32.56.