Morgan Stanley Upgrades Garmin (GRMN), Raises Price Target to $252 from $195

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Morgan Stanley upgraded Garmin (GRMN) to Equal Weight from Underweight, increasing its price target to $252 from $195 due to stronger-than-expected 2026 revenue and margin guidance. Garmin reported record 2025 revenue of $7.246 billion, 15% up year-over-year, and healthy fourth-quarter figures, with management guiding for continued growth in 2026. The company also announced a 17% dividend increase and a $500 million share repurchase program.

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