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Garmin Shares Rise After Analyst Boosts Estimates

Stock quotes in this article: GRMN  

NEW YORK (AP) — Shares of Garmin Ltd. edged upward Friday after an analyst raised his earnings estimates on the navigation device maker, saying that stable inventory could lead to increased seasonal sales and average selling prices.

Shares of Garmin, which is based in the Cayman Islands, rose 56 cents, or 2.6 percent, to $22.01.

In a client note, Barclays Capital analyst Amir Rozwadowski said he thinks stabilized inventory levels have "enabled Garmin's sell-in to closely mirror sell-through during the quarter." ...

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