Logitech price target raised to $70 from $65 at Wedbush

Wedbush analyst Alicia Reese raised the firm’s price target on Logitech to $70 from $65 and keeps an Outperform rating on the shares. The analyst expects shares to continue to rebound off trough levels as Logitech beats expectations in the coming quarters. Even as Logitech faces macroeconomic headwinds and currency pressure, Reese thinks the company remains well-positioned to gain further market share amid expansion in PC peripherals and video conferencing stemming from hybrid work, to benefit from long-term growth in global gaming, and to benefit from an expanded user base as users gained during the pandemic join the upgrade cycle in next two years.