Logitech: Wedbush Securities upgrades to 'outperform

(CercleFinance.com) - Wedbush Securities announced on Friday that it had upgraded its opinion on Logitech shares from 'neutral' to 'outperform', with a price target raised from $100 to $125.


In a note, the broker justifies its decision by the clarifications made by the digital accessories manufacturer's management team at the last analysts' meeting.

Wedbush points out that the Swiss-American group stated that it expects solid organic growth driven by the strength of the video game market and entry into new markets.

Logitech has ruled out large-scale mergers and acquisitions (M&A), preferring instead the scenario of targeted acquisitions, which could enable it to accelerate growth in certain segments.

And while the entry into force of the new US tariffs should penalize its gross margin by up to two percentage points in the short term, the Group plans to limit this impact by reducing its operating expenses, he adds.

Wedbush also states that he expects the company to step up its share buy-backs, while continuing to increase its dividend.

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