Brean Capital Starts Logitech International (LOGI) at Buy
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Brean Capital initiates coverage on Logitech International (NASDAQ: LOGI) with a Buy rating and a price target of $30.00.
Analyst Ananda Baruah commented, "We believe LOGI presents a unique opportunity to own an under-appreciated organically transforming company with premium brand cache at an attractive valuation. We consider valuation attractive in the context of 1) Street estimates being potentially materially low for the next 4 - 8 Q's, 2) our $30 valuation requiring just a 20x P/E to achieve our $30 TP (30% appreciation), and 3) potential for double-digit revenue growth and 15% - 20% EPS growth. LOGI is largely covered outside the U.S., and we anticipate a material push for increased U.S.- based coverage could materially help the stock's profile. Finally, with strong FCF generation and ~13% of the Cap in net-cash, we firmly believe that LOGI will deploy capital in a manner not yet discounted in the model or the stock, initially via M&A and then ultimately via share repurchase and / or dividend. We initiate coverage with a Buy rating."
Shares of Logitech International closed at $21.48 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Starts Safe Bulkers (SB) at Hold
- Union Pacific (UNP) PT Raised to $102 at Stifel Following 4Q Report
- UPDATE: Benchmark Starts Cross Country Healthcare (CCRN) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesBrean Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!