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06.01.2009 17:24 UPDATE 1-RESEARCH ALERT-Goldman Sachs cuts Garmin to sell Jan 6 (Reuters) - Goldman Sachs (News) downgraded Garmin (News) to \'sell\' from \'neutral,\' noting 2009 will likely usher in a multi-year decline in its core portable navigation device market, and added the stock to its conviction sell list. Shares of the largest U.S. maker of navigation devices were down 4 percent at $21.02 in morning trade on Nasdaq. They fell as much as 11 percent earlier in the session. \'We believe the current economic slowdown plus increased smartphone GPS usage and limited diversification options will drive material revenue/EPS decline over the next several years,\' Goldman said. The brokerage lowered its 12-month price target on the stock to $15 from $21. |
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| aus der Diskussion: | Warum interessiert sich hier niemand für GARMIN ?? |
| Autor (Datum des Eintrages): | meinolf67 (06.01.09 18:09:40) |
| Beitrag: | 63 von 95 (ID:36317128) |
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