Logitech: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse believes that Logitech, which is considered to have a "strong" balance sheet, is an "attractive" investment with a "broadly diversified" portfolio.
"COVID-19 has probably accelerated and possibly even expanded the long-term growth potential," the broker analyses, increasing its 2021-2023 sales outlook by 2.8%, while reducing estimated net profit by 4.6% due to conservative EBIT forecasts for fiscal year 2022.
However, the increase in Logitech's growth and margin targets "supports the valuation well," the analyst continues.
Credit Suisse is therefore maintaining its outperform rating on the Logitech share, while increasing its corresponding target price to 121 Swiss francs (from 116 Swiss francs).
Copyright (c) 2021 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.
"COVID-19 has probably accelerated and possibly even expanded the long-term growth potential," the broker analyses, increasing its 2021-2023 sales outlook by 2.8%, while reducing estimated net profit by 4.6% due to conservative EBIT forecasts for fiscal year 2022.
However, the increase in Logitech's growth and margin targets "supports the valuation well," the analyst continues.
Credit Suisse is therefore maintaining its outperform rating on the Logitech share, while increasing its corresponding target price to 121 Swiss francs (from 116 Swiss francs).
Copyright (c) 2021 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.