Logitech: UBS expects another cut to forecasts
(CercleFinance.com) - The analyst believes that it will take a little more time before the group cuts its costs.
UBS confirms its buy rating on the stock although has trimming its target price for it to 68 euros (from 70 euros).
UBS expects a further reduction in the company's forecasts.
The group already announced at the end of July a reduction in its annual outlook, with sales expected to fall by 8% (and 4% at constant exchange rates), with an adjusted operating profit of 650 to 750 million dollars.
For Q1 2022-23, the company published adjusted EPS that is down 39% to 0.74 dollar, with an adjusted operating profit that fell 38% to 146 million dollars on sales that slipped 12% to 1.16 billion dollars (-9% at constant currencies).
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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.
UBS confirms its buy rating on the stock although has trimming its target price for it to 68 euros (from 70 euros).
UBS expects a further reduction in the company's forecasts.
The group already announced at the end of July a reduction in its annual outlook, with sales expected to fall by 8% (and 4% at constant exchange rates), with an adjusted operating profit of 650 to 750 million dollars.
For Q1 2022-23, the company published adjusted EPS that is down 39% to 0.74 dollar, with an adjusted operating profit that fell 38% to 146 million dollars on sales that slipped 12% to 1.16 billion dollars (-9% at constant currencies).
Copyright (c) 2022 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.