Goldman Sachs Turns Bullish On This Switzerland-Based Consumer Electronics Company - Logitech International (NASDAQ:LOGI)

Goldman Sachs analyst Alexander Duval upgraded Logitech International SA LOGI to Buy from Neutral with a price target of CHF 107, up from CHF 88.
The price target represents more than a 50% upside.
The company's recent solid execution with an outlook for growth in the coming fiscal year creates an attractive valuation at current share levels.
The analyst forecasts re-accelerating sales expansion in FY23 onwards, reflecting his view of solid secular trends in gaming and video-conferencing.
BofA Securities saw Logitech generate a CAGR of 8% in revenues and 10% in EBITDA between FY22 and FY26, thanks to its strong track record and exposure to the "secular megatrend (social media, gaming, video calling, etc.)" and a path towards "higher ASP products."
Logitech reported a Q3 FY22 sales decline of 2% year-on-year to $1.63 billion, beating the consensus of $1.27 billion. Non-GAAP EPS of $1.55 beat the consensus of $1.10.
Logitech also raised its FY22 outlook.
Price Action: LOGI shares traded higher by 4.28% at $74.50 in the premarket session on the last check Monday.