Analyst Alicia Reese of Wedbush reiterated a Buy rating on Corsair Gaming (CRSR – Research Report), boosting the price target to $12.00.
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Alicia Reese has given her Buy rating due to a combination of factors reflecting Corsair Gaming’s promising position in the market. The company is currently experiencing favorable conditions, or tailwinds, across its business segments, particularly in gaming peripherals, where it has formed strategic partnerships and is poised to benefit from a strong lineup of game releases. Furthermore, Corsair’s components segment is expected to gain momentum from the latest GPU offerings, which could drive demand among DIY game system builders looking to upgrade their systems.
Additionally, Corsair’s market positioning is strengthened by a rebound in its domestic market and improving conditions in Europe, while strategically shifting focus in Asia towards Japan and South Korea. These improvements, along with a discounted valuation ahead of a strong gaming cycle, underpin Alicia’s optimism. The company’s competitive EV-to-EBITDA multiple and potential upside in Q4 revenues and EBITDA estimates further reinforce the Buy rating.
According to TipRanks, Reese is a 5-star analyst with an average return of 19.0% and a 66.00% success rate. Reese covers the Communication Services sector, focusing on stocks such as Netflix, Roku, and IMAX.