Garmin riding high, says analyst
29 Jun 2007
Garmin is considered to be one of the best providers of satellite navigation (sat nav) systems, proving both popular and reliable, a new survey states.According to the research carried out by US analyst Robert W Baird, where 20 consumer electronics retailers were questioned, the overall view of Garmin as a brand was positive.
Typically, Garmin products “outsell other devices on a two-to-one margin”, Robert W Baird claimed and estimates for earnings-per-share have been increased from the initial predictions for both this year and for 2008.
The sat nav provider was also handed the tag of “sector outperform” by analysts at CIBC World Markets earlier in the month. On June 15th, the target price was increased by $67 (£33.55) to $79 (£39.56).
Garmin’s official website says that it has “built and sold millions of GPS receivers”. Additionally: “While our immediate success has resulted from developing innovative products for a variety of markets, our long-term success is based on our commitment to support our customers after the sale.”
