Morgan Stanley Lowers its Price Target on Garmin (GRMN) to $249

Garmin Ltd. (NYSE:GRMN) is one of the 10 Best European Stocks That Beat Earnings Estimates to Buy.

On April 30, 2026, Morgan Stanley lowered its price target on Garmin Ltd. (NYSE:GRMN) to $249 from $252 and maintained an Equal Weight rating. The firm said Q1 results were modestly ahead of expectations, with Fitness continuing to stand out, and noted potential upside risk to estimates for the year.

On April 29, 2026, Garmin Ltd. (NYSE:GRMN) reported Q1 adjusted EPS of $2.08 versus $1.84 consensus and revenue of $1.75B compared to $1.71B expected. Chief Executive Officer Cliff Pemble has said that the company delivered “remarkable financial results,” reflecting strong demand across its product lineup and its diversified business model. Garmin has reaffirmed its FY26 pro forma EPS outlook of $9.35 versus $9.39 consensus and revenue guidance of about $7.9B compared to $7.98B expected.

Morgan Stanley Lowers its Price Target on Garmin (GRMN) to $249

Daxiao Productions/Shutterstock.com

Prior to the earnings release, JPMorgan has raised its price target on Garmin Ltd. (NYSE:GRMN) to $285 from $265 previously and kept a Neutral rating on the shares as part of a broader Q1 preview.

Garmin Ltd. (NYSE:GRMN) designs and sells GPS-enabled navigation, communication, and fitness-related products globally.

While we acknowledge the risk and potential of GRMN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GRMN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Disclosure: None. Follow Insider Monkey on Google News.