Morgan Stanley raises 'de-risked' Logitech to 'equal-weight'

Logitech International SA

23/01/2025 09:09

** Shares of computer keyboard and mouse maker Logitech
 LOGN.S  rise 3.2% after Morgan Stanley raises its rating to
"equal-weight" from "underweight", citing consensus long-term
expectations
    ** MS underlines consensus expectations now forecasting a 4%
compound annual growth rate through 2027, a 100bps above
broker's expectations
    ** MS also hightlights Logitech's price-to-earning's
multiple, which has de-rated by 4x turns, underperforming its IT
Hardware re-rating of 1x turn and market multiple of 2x turns
    ** Morgan Stanley expects Logitech to post a modestly
stronger FY25 outlook than anticipated, forecasting a revenue of
$4.43 bln, operating income of $757 mln and an EPS of $4.71
    ** The average rating of 12 analysts is a 'hold' - LSEG

 (Reporting by Tristan Veyet)
 ((Tristan.chabba@thomsonreuters.com))