Garmin shares worth a closer look - Barron's

NEW YORK, March 14 (Reuters) - Garmin Ltd (GRMN.O), the No 1 U.S. navigation device maker, may be worth a closer look by investors, according to Barron's.

Only three analysts out of 19 rate the company's shares a buy, the weekly business newspaper said in its March 15 edition, noting the stock had been hit hard after the company's past two earnings releases.

But "earnings projections are rising and disciplined value-fund managers are discovering the name," Barron's said.

Christopher Pavese, chief investment officer of Broyhill Asset Management, believes Garmin shares -- which closed at $35.91 on Friday -- are ultimately worth $50, according to the report.