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Garmin (GRMN +2.5%) is hoisted to Buy at Canaccord with a new $47.50 price target, up from $37,...

Garmin (GRMN +2.5%) is hoisted to Buy at Canaccord with a new $47.50 price target, up from $37, as the maker of GPS devices should see improving earnings power away from its core portable navigation device segment. The firm lifts its 2011 EPS forecast to $2.47 from $2.37; for 2012, it jumps to $2.66 from $2.10; for 2013, $2.91.
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