Logitech is down only 0.8% and slightly outperforms the Zurich trend (-1.3% on the SMI) helped by comments from Credit Suisse which confirms its opinion ‘outperformance’ on the title with an adjusted price target of 49 47 Swiss francs.
The design office sees ‘the Logitech offer as an attractive dossier in the current environment, with its widely diversified portfolio, exposure to video and game collaboration in structural growth, and its solid balance sheet’.
Credit Suisse is however lowering its sales and adjusted EPS estimates by 4% and 7% for the 2021 and 2022 fiscal years, in the wake of management’s adjustment of its 2020 and 2021 forecasts for the impact of the coronavirus.
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