Stock Update: Garmin Ltd. (NASDAQ:GRMN)

[The Street] Garmin Ltd. (NASDAQ:GRMN) was initiated with a "neutral" rating and a $54 price target by analysts at Credit Suisse on Friday.The firm said it initiated coverage on the company, which provides navigation, communication, and information devices, based on its belief the company has a mixed business outlook."Our rating reflects the balance between the solid growth outlook in aviation and recovery at Marine, with continued structural decline in PND and a somewhat more cautious view on fitness and outdoor, where intensifying competition could become a headwind," Credit Suisse said.Stock PerformanceTaking a look at the company’s recent performance, Garmin reported Second quarter earnings for fiscal 2014 on July 30^TH. The company reported actual earnings per share of $1.02 against the consensus Street estimate of $0.76. This represents year over year growth of 25.49%. Garmin posted revenue of $778.00 million against estimates of $709.25 million.Garmin Ltd. (NASDAQ:GRMN) is currently valued at $10.32 billion and closed the last trading session at $53.60. The stock has a 50-day moving average of $53.55 and a 200-day moving average of $56.23.

Is this a Buying Opportunity?There are currently fifteen analysts that we track that cover the stock. Of those fifteen, five have a Buy rating, seven have a hold rating and three have a Sell rating. On a consensus basis this yields a score of 2.13 and a Hold. The combined price objective of these covering analysts is $58.37, which represents a 15.70% upside difference to the last closing price.The most recent analyst activity consisted of Morgan Stanley reiterating rating with underweight stance on the company. Morgan Stanley has a price target of $45.00 to $53.00 which represents an upside of 5.05% from the last closing price. On the date of the report, the stock closed at $50.45.Another research firm weighing in recently was Robert W. Baird who initiated coverage with neutral rating on the stock. On August 26^th Robert W.Barid boosted their price target on the stock from $59, a 20.68% upside to the current price. On the day of the report, GRMN shares closed at $57.46.Company ProfileGarmin Ltd. (NASDAQ:GRMN), together with its subsidiaries, designs, develops, manufactures, and markets hand-held, portable and fixed-mount global positioning system (GPS) enabled products and other navigation, communication, and information products for the automotive/mobile, outdoor, fitness, marine, and general aviation markets worldwide. It operates in five segments: Auto/Mobile, Aviation, Marine, Outdoor, and Fitness. The Auto/Mobile segment offers a range of automotive navigation products, as well as various products and applications designed for the mobile GPS market.