Barclays Turns More Constructive on Garmin (GRMN) as Valuation Looks Undemanding

Garmin Ltd. (NYSE:GRMN) is included among the 12 Most Profitable Dividend Stocks to Buy in 2026.

On January 16, Barclays upgraded Garmin Ltd. (NYSE:GRMN) to Equal Weight from Underweight and raised its price target to $217 from $208. The shift reflects a more constructive view on the stock, driven by what the firm described as an “undemanding” valuation, Garmin’s diversified business lines, and steady momentum in wearables, “that continues to benefit from positive secular trends around wellness.”

The call followed fresh product news earlier in the month. On January 6, Garmin and Meta unveiled an automotive OEM proof-of-concept that blends Meta’s Neural Band and electromyography technology with Garmin’s Unified Cabin in-vehicle platform.

The concept was introduced at CES 2026. It allows passengers to control select infotainment features through simple hand gestures detected by the EMG band, using movements of the thumb, index, and middle fingers. The idea is to move beyond touchscreens and create a more relaxed, intuitive in-car experience, especially for passengers rather than drivers.

Meta’s Neural Band is a different take on wearables. It reads subtle neural signals from muscles in the wrist and converts them into digital commands. By relying on EMG technology, the device can pick up a wide range of gestures, making interaction with computers and vehicles feel more fluid and natural.

Garmin Ltd. (NYSE:GRMN) is a Switzerland-based company best known for its GPS navigation products, wearables, and wireless devices, serving consumers across automotive, fitness, aviation, marine, and outdoor markets.

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Disclosure: None.