Garmin's stock surged 5.07% during intraday trading on Thursday, driven by a series of positive analyst actions from major financial institutions.

The rally followed multiple upgrades and target price increases from leading Wall Street firms. Morgan Stanley upgraded Garmin to Equal Weight from Underweight and raised its price target to $252 from $195, while Barclays increased its target to $240 from $217. Additionally, JPMorgan adjusted its price target on Garmin to $265 from $250, maintaining a Neutral rating on the shares.

These analyst actions reflect growing optimism about Garmin's prospects and contributed to the significant price movement during the trading session.