Wedbush Upgrades This Swiss-Based Consumer Electronics Company
- Wedbush analyst Michael Pachter upgraded Logitech International SA (NASDAQ: LOGI) to Outperform from Neutral with a $90 price target, implying an upside of 18.8%.
- Logitech must still face tough comparisons and a difficult supply chain environment before returning to a premium multiple.
- Pachter expects shares to quickly return to their five-year historical average multiple or higher if demand remains strong.
- The company can show re-accelerating growth in Video Conferencing, Webcams, and Gaming after lapping the difficult post-pandemic comps and overcoming current supply chain constraints.
- Price Action: LOGI shares traded higher by 1.84% at $76.01 on the last check Tuesday.
Latest Ratings for LOGI
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Mar 2022 | Loop Capital | Upgrades | Hold | Buy |
| Mar 2022 | Morgan Stanley | Maintains | Underweight | |
| Mar 2022 | Wedbush | Upgrades | Neutral | Outperform |
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