Wedbush analyst Alicia Reese raised the firm’s price target on Logitech to $90 from $85 and keeps a Neutral rating on the shares. After significant pandemic-era expansion throughout its categories, macroeconomic headwinds and currency pressure halted Logitech’s growth trajectory. Logitech’s first half of 2024 results teased a potential inflection point for the year, while its current full year 2024 guidance balanced the downside scenario of another difficult holiday with the upside potential that consumer spending will continue to rebound, the firm says. Wedbush thinks holiday sales levels will allow management to again raise FY24 guidance modestly, particularly as sales trends appear to be lifting on easing macroeconomic trends. The firm believes Logitech is well-positioned to benefit from a rebound in global gaming and that it is benefiting from an over-extended PC peripheral refresh cycle.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on LOGI:
- Logitech price target raised to $98 from $80 at Citi
- GXO Logistics appoints Cawston as Chief Revenue Officer
- Logitech price target raised to CHF 65 from CHF 60 at Deutsche Bank
- Logitech price target raised to $108 from $95 at JPMorgan
- Logitech Sight camera certified for Microsoft Teams, Zoom Rooms
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue