Deutsche Bank analyst George Brown upgraded Logitech (LOGI) to Hold from Sell with a price target of CHF 80, up from CHF 60. The company’s “strong” Q3 report, where growth surprised positively in China and in gaming, should shift in investor attention to the capital markets day in Silicon Valley on March 5, the analyst tells investors in a research note. The firm expects upgrades to Logitech’s long-term profitability targets and views its lower product costs as a sustainable tailwind to both gross and operating margins.
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