Garmin shares are trading lower after Barclays downgraded the stock from Equal-Weight to Underweight and lowered its price target from $181 to $133.
Portfolio Pulse from Benzinga Newsdesk
Garmin shares declined following a downgrade by Barclays from Equal-Weight to Underweight, with a price target reduction from $181 to $133.
September 13, 2024 | 3:42 pm
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NEGATIVE IMPACT
Garmin's stock is under pressure after Barclays downgraded it from Equal-Weight to Underweight, reducing the price target from $181 to $133.
The downgrade by Barclays is a significant negative signal for investors, likely leading to a decrease in Garmin's stock price. The reduction in the price target from $181 to $133 suggests a bearish outlook, which can influence investor sentiment and result in selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100