Wedbush upgrades Corsair Gaming to Outperform, raises price target to $21

As previously reported, Wedbush upgraded Corsair Gaming to Outperform from Neutral with a price target of $21, up from $17.50, given the firm’s confidence that Corsair is positioned to return to profitability in the near-term. Further, Wedbush thinks Corsair is better positioned than it has been historically against its peers to resume growth. Corsair has a defensible niche in gaming peripherals driven by a small, but dedicated base of hard-core gamers, the firm adds. Coming out of tough comps, Wedbush believes Corsair is well-positioned with its product and geographical mix, as its domestic market begins to rebound, its European market is just beginning to inflect, and an Asia rebound appears further out.