Garmin price target raised to $70 from $65 at Citigroup Citigroup raised its price target for Garmin shares to $70 saying the company's fitness band vívofit is well positioned to benefit from the faster than expected growth in the activity monitor category. Citi believes 2M-2.5M activity monitors were shipped in Q1, and it expects strong momentum through 2014 and 2015. It reiterates a Buy rating on Garmin.
Garmin downgraded at Atlantic Equities As previously reported, Atlantic Equities to Neutral from Overweight. The firm downgraded shares based on lack of catalysts and valuation. Price target lowered to $55.