Logitech: Wedbush downgrades stock
(CercleFinance.com) - Wedbush has downgraded its "outperform" rating on the Logitech share to "neutral," while maintaining its target price of 48 dollars, judging the share of the Swiss computer accesory group as "valuation is now full".
However, the broker acknowledges that, "Logitech's global portfolio of mature businesses, coupled with compelling growth stories is driving market share gains," while noting, "We think Logitech's ability to expand gross margin while mitigating the impact of China tariffs underscores management's agility."
"We think Logitech's consistent earnings growth with investor-friendly capital allocation will support shares of LOGI at the high-end of its historical range, particularly as the tariff overhang dissipates," analysts say.
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