Logitech: Credit Suisse cuts target price
(CercleFinance.com) - Credit Suisse has reduced its target price for the share of Swiss computer peripheral maker Logitech, while maintaining an "outperform" rating on the stock.
In a note to clients, the broker said that the world's biggest maker of computer mice offers an "attractive investment" case in the current environment.
Credit Suisse cited the Lausanne-based group's diversified portfolio, as well as its exposure to the structurally growing gaming and video collaboration markets, along with its "strong" balance sheet.
However, the broker has adjusted its sales and earnings estimates for the group, which in all have led it to cut its corresponding target price from 49 Swiss francs to 47 Swiss francs.
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