Stock Groups

Logitech Up 5% on BofA Buy Rating -Breaking

by Mike Robinson

[ad_1]

© Reuters

Sam Boughedda

Investing.com — BofA analyst Adam Angelov began coverage on Logitech International SA, (NASDAQ:), Thursday. He gave the stock a Buy rating and assigned a $107 target price. This implies potential upside of 40%.

Angelov stated that they expect an attractive 8% revenue growth rate and 10% EBITDA compound annual increase rate for fiscal 2022-2026.

An analyst gave the Buy rating based on three elements. They cite the first as “strong execution track record” and anticipated market share gains.

Second, it is its “secular megatrend” social media, gaming and video calling. exposure.”

Angelov then noted Logitech’s upgrades for customers to products with higher average selling prices.

Logitech stock rose 5% on Thursday morning as a reaction to the upgrade. Still, Logitech shares are down over 8% in 2022 and more than 26% in 12 months.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]