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モルガン・スタンレーによると、ガーミンはフィットネス分野の急成長を受け、第1四半期の業績が予想を上回った。

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-- モルガン・スタンレーは水曜日のレポートで、ガーミン（GRMN）の第1四半期決算が予想をやや上回る好業績となり、フィットネス部門が再び際立ったと述べた。 同レポートによると、フィットネス事業は「驚異的な成長」を遂げ、売上高の伸びは11年ぶりの高水準に達し、粗利益率は470ベーシスポイント拡大した。 モルガン・スタンレーは、ガーミンの通期見通しが据え置かれたのは「年初としては典型的なもの」であり、今後上方修正の余地があると指摘した。また、経営陣はハイエンド消費者の支出が悪化するとは予想しておらず、需要は地政学的緊張にも強く、回復力があると見込んでいるという。 モルガン・スタンレーは、部品コストの上昇は今年は小幅な影響にとどまると予想しているものの、2027年には逆風となる可能性が高いとしている。 同社は、予想を上回る収益性を受けて、2026年の1株当たり利益（EPS）予想を9.50ドルから9.80ドルに引き上げた。 2027年の1株当たり利益（EPS）予想は10.36ドルに引き下げられ、前年比1%減となった。これは、来年の部品コスト上昇の見通しを部分的に反映したものである。 モルガン・スタンレーは、ガーミン株の目標株価を252ドルから249ドルに引き下げ、投資判断は「イコールウェイト」を維持した。

Price: $249.33, Change: $-3.75, Percent Change: -1.48%

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