Garmin International is supporting a growing number of consumer GPS navigation and location applications that have caught the attention of Wall Street.

Parent company Garmin [Nasdaq: GRMN] is enjoying a rising stock price and favorable reviews from analysts as a reward for its strategy of offering innovative GPS products to the commercial market. The Olathe, Kan.-based company’s resilience in the face of a weak economy shows the merit of designing and marketing products that target distinctive niches.

Marc Nabi, the satellite analyst at Merrill Lynch, recently issued a positive report on Garmin after spending time with Chief Financial Officer Kevin Rauckman. Nabi said Garmin is performing well, despite the economic slowdown. Indeed, the company’s stock price closed on April 17 at $38.78 a share, slightly below its 52-week high of $38.89 reached the previous day.

For more on this story, see the April 21 issue of SATELLITE NEWS. For information on subscriber to PBI Media’s satellite newsletters, visit our Web site at https://www.satellitetoday.com