Logitech International (LOGI) PT Raised to $100 at Citi

Citi analyst Asiya Merchant raised the price target on Logitech International (NASDAQ: LOGI) to $100.00 (from $85.00) while maintaining a Neutral rating.

The analyst comments "Logitech should report results on around 7/28. Our CEO discussion point to steady demand and intact June qtr GM guidance of 41.5% (midpoint) along with longer-term 40%+ model, supported by a resilient consumer despite pricing actions buoyed by its product/brand reputation. Video conf also benefiting from macro impact on tightening physical travel spend. Moreover, new VC product AI features reinforce Logitech product segment superiority, while additional conversations indicate near-term optimistic VC demand, tariff mitigation efforts, and continued opex controls. We increase ests on pricing traction and opex improvements, and our Target Price rises to $100 (rounded) from $85 prior on 16x EV/EBIT, up from 15x prior as multiples have risen significantly over the past 90 days. We maintain Neutral on premium valuation levels vs peers and as risk-reward appears balanced on risk of pull-fwd & lingering potential for macro impact to spending trends ahead, esp given consumer-heavy uncertainty."

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