Citi ups Logitech target to $75, opens ‘positive catalyst watch’

Citi analyst Asiya Merchant raised the firm’s price target on Logitech to $75 from $65 and keeps a Buy rating on the shares. The analyst also opened a "positive catalyst watch" on the shares. Citi’s recent consumer survey suggests positive demand for gaming peripherals ahead, which represent 25% of Logitech’s revenue, as availability of gaming devices improves during the holiday shopping season, Merchant tells investors in a research note. Looking further in 2023, the analyst believes easier comps coupled with a "large and growing" installed base of gamers, content creators and hybrid workers create potential for margins to tick up as component and currency headwinds abate.