Corsair Gaming rises as Wedbush upgrades stock rating to 'outperform'

Corsair Gaming

31/07/2023 14:44

** Shares of computer component seller Corsair Gaming
 CRSR.O  rise 5.4% to $18.3 
    ** Brokerage Wedbush raises rating on CRSR to "outperform"
from "neutral" while also raising PT to $21 from $17.5
    ** Brokerage says Corsair is well positioned against its
peers, to return to profitability in near-term
    ** Adds CRSR is stable with its product and geographical mix
to benefit from domestic market rebound as its European market
inflects and Asia market rebounds further after slowed growth in
2022
    ** With its healthy inventory position, Corsair should see
earlier replenishment of peripherals- Wedbush
    ** 4 of 8 analysts rate the stock "buy" or higher while 4
rate it at "hold"; median PT $19 – Refinitiv data
    ** Stock up 28.5% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))