Logitech Expected to Deliver Consistent Growth Despite Headwinds, Wedbush Says

MT Newswires Live04-29

Logitech International (LOGI) is expected to deliver consistent growth over the next several quarters despite headwinds as it diversifies its strengths across categories and geographies, Wedbush Securities said in a note Wednesday.

The brokerage said Logitech is positioned to accelerate growth through small tuck-in mergers and acquisitions, facilitate share buybacks, and expand its dividend.

The company has managed significant margin pressure through product updates, cost reductions, targeted promotional activity, and supply chain adjustments, resulting in gross and operating margin expansion, according to the note.

Analysts estimate the company's fiscal Q4 earnings at $1.21 per share and revenue to be up 8% year over year to $1.09 billion, both above consensus. The company is scheduled to report its fiscal Q4 financial results on May 5.

Wedbush has an outperform rating on the stock and a $135 price target.

Price: 97.82, Change: +1.18, Percent Change: +1.22

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