Sam Boughedda

Logitech International (NASDAQ) – Investing.com was upgraded from Neutral to Buy by UBS analyst Joern Iffert on Tuesday. 

In a note, the analyst stated that Logitech’s share price had fallen around half off its peak of mid-2021. However, they believe, outside of priced-in pull-forward demand risk in certain segments, that “the recent decline in share price linked to macro risks” and overall sales resilience, is too much.

The hybrid work environment and the solid consumer gaming trends in medium-term offer some stability. Iffert stated that the B2B expansion presents additional opportunities and that he has lowered his target price to CHF73, down from CHF81. 

Logitech, even with the upgrade, stated the analyst that Logitech faces rising macro risk, so they have reduced their FY 23-24EPS view.

Logitech shares that are US-listed rose 4.37% Tuesday, but it’s down 26% so far in the year.