Garmin stock price target raised to $305 by Tigress Financial on wearable demand

Investing.com - Tigress Financial Partners raised its price target on Garmin Ltd. (NYSE:GRMN) to $305.00 from a previous target, while maintaining a Strong Buy rating on the stock. The stock currently trades at $244.67, near its 52-week high of $246.50, having delivered an impressive 41.6% return over the past year. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.

The firm cited accelerating fitness and smart wearable demand as key drivers for the price target increase, along with ongoing new product introductions and strategic integration of Garmin's MYLAPS acquisition. Tigress Financial also highlighted major health innovations and growing recurring subscription revenue as factors supporting future growth. InvestingPro data reveals strong fundamentals supporting this outlook, with the company achieving a 19.7% revenue growth and maintaining impressive gross profit margins of 58.9%.

Garmin reported record second-quarter revenue with double-digit growth across all key segments, driven by strong demand for fitness wearables and continued product innovation. The company's recent product launches include the fēnix 8 Pro with inReach satellite messaging, the Blaze Equine Wellness System for horse health tracking, and the Bounce 2 smartwatch for children with LTE capabilities.

The Garmin Health Summit 2025 showcased digital health innovations, strategic partnerships, and wearable research collaborations that earned industry awards for the company's health platforms. Garmin's acquisition of MYLAPS, an integrated timing technology company, expands its presence in sports event timing and performance analysis technology.

Tigress Financial noted that Garmin's strong balance sheet and cash flow enable it to drive growth through investments in product development and strategic acquisitions while enhancing shareholder returns through dividend increases and share repurchases. InvestingPro analysis confirms this financial strength with a "GREAT" overall health score of 3.27, highlighting the company's robust current ratio of 3.01 and its 8-year streak of consecutive dividend increases. For deeper insights into Garmin's financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

In other recent news, Garmin announced a collaboration with King's College London, becoming the exclusive smartwatch provider for the EMBRACE research program focused on maternal health. This partnership aims to collect biometric data from up to 40,000 participants worldwide. Additionally, Garmin introduced several new products, including the fēnix 8 Pro series, which are the first smartwatches to feature built-in satellite connectivity, allowing users to communicate without a smartphone. The company also unveiled the Edge 550 and 850 cycling computers, offering enhanced training features and improved displays for cyclists. Furthermore, Garmin launched the Rally 110 and 210 cycling power meters, which come with rechargeable batteries and increased accuracy. In terms of analyst activity, KeyBanc has reiterated its Sector Weight rating on Garmin, highlighting the company's business resilience after discussions with Garmin's management. These developments reflect Garmin's ongoing efforts to innovate and expand its product offerings in various sectors.

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