Computer equipment maker Logitech’s (LOGI) CEO Hanneke Faber is bullish on consumer spending heading into the year-end holidays.
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Faber recently said that Logitech is, “ready for the holidays.” In fact, Faber said “…we think the global consumer will show resilience,” and “…markets should be up low single digits” during the company’s full Fiscal year.
Specifically, Faber expects Logitech’s gaming hardware that includes headsets, keyboards and controllers to sell well. The remarks seem counter-intuitive as a CNBC report from August claimed that the video game industry was projected to grow just 2.1% on a year-over-year basis in 2024.
New Logitech Products
The CEO remarks come as Logitech launches a slate of new products that include a brand new version of its POP Icon keyboard, which combines a colorful design with advanced functionality.
Logitech has also launched a sale on one of its flagship gaming keyboards: the G915 Lightspeed. The Lightspeed was marked down $90, dropping from an original price of $249.99 to $159.99.
Is Logitech a Good Stock to Buy?
Turning to Wall Street, analysts have a Hold consensus rating on LOGI stock based on 4 Buy and five Holds assigned in the past three months, as indicated by the graphic below. The average LOGI price target of $95.43 per share implies 14.47% upside potential.
