Logitech: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse maintains its "neutral" rating on Logitech shares, while raising its target price for them from 52 CHF to 59 CHF.
The analyst says he has updated his model and fine-tuned his expectations for FY 2024 (adjusted EBIT +1%), and for 2025/26 (adjusted EBITT +8.5%), despite an almost unchanged sales growth forecast (around 5%).
"To potentially turn more positive, we would need better visibility on the gaming and video collaboration growth areas," the analyst says.
Credit Suisse believes that the festive season could become a growth driver for games, as visibility of video collaboration remains low, coupled with long lead times and deployment cycles.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The analyst says he has updated his model and fine-tuned his expectations for FY 2024 (adjusted EBIT +1%), and for 2025/26 (adjusted EBITT +8.5%), despite an almost unchanged sales growth forecast (around 5%).
"To potentially turn more positive, we would need better visibility on the gaming and video collaboration growth areas," the analyst says.
Credit Suisse believes that the festive season could become a growth driver for games, as visibility of video collaboration remains low, coupled with long lead times and deployment cycles.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.