Tigress Lifts Garmin (GRMN) Target, Cites Strength Across Wearables and Aviation

Garmin Ltd. (NYSE:GRMN) is included among the 13 Best Debt Free Dividend Stocks to Buy Now.

On December 19, Tigress Financial raised its price target on Garmin Ltd. (NYSE:GRMN) to $310 from $305 and kept a Strong Buy rating. The firm points to wearables and outdoor devices as key growth drivers, with aviation and marine businesses adding steady, high-margin support. Tigress said its 12-month target implies a potential total return of more than 55% from current levels, including dividends.

Garmin Ltd. (NYSE:GRMN) continues to draw attention as consumers lean into its GPS and wearable products. In the third quarter of 2025, revenue reached $1.77 billion, up 12% from the same period last year. Those sales translate into strong cash generation. Free cash flow totaled $425 million for the quarter, well above the company’s $173 million dividend payout.

The dividend yield sits at a modest 1.76%, but the balance sheet remains solid. That financial flexibility matters during slower growth periods. It also gives management room to invest when opportunities appear.

Over time, Garmin has used that strength to make acquisitions that extend its technology lead and bring more distributors in-house. By the end of Q3, the company held $3.9 billion in cash and marketable securities, roughly 10% of its recent market value.

Looking ahead, Garmin Ltd. (NYSE:GRMN) expects revenue of about $7.10 billion and pro forma EPS of $8.15. That outlook assumes a gross margin of 58.5%, an operating margin of 25.2%, and a pro forma effective tax rate of 17.5%.

Garmin Ltd. (NYSE:GRMN)’s product lineup covers a wide range of outdoor uses. It includes adventure and dive watches, golf devices, handheld outdoor units, satellite communicators, automotive GPS products, and dog tracking and training systems.

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