Logitech International SA Stock Rating Reaffirmed by Zacks (LOGI)
Logitech International SA (NASDAQ: LOGI)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Friday, AnalystRatings.Net reports. They currently have a $7.50 price target on the stock.
Zacks‘ analyst wrote, “We are reaffirming our Neutral recommendation on Logitech with a target price of $7.50. Although the company reported weak results in the last reported quarter ending March 31, Logitech is doing well in the tablet and gaming accessories market. Further, the company is expected to report improvements in next quarter and through fiscal 2013, as Logitech expects to reap the benefits from its restructuring and turnaround plans. Recently, the company launched three new tablet covers. However, the continued decline in the global PC market may hurt the company’s sales for atleast a few upcoming quarters. “
Separately, analysts at Avondale Partners downgraded shares of Logitech International SA from a “market perform” rating to an “underperform” rating in a research note to investors on Monday.
Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $7.50.
Shares of Logitech International SA (NASDAQ: LOGI) traded down 5.23% during mid-day trading on Friday, hitting $6.255. Logitech International SA has a 52 week low of $6.53 and a 52 week high of $11.47. The stock’s 50-day moving average is currently $6.91. The company’s market cap is $988.3 million.
Logitech International SA (NASDAQ: LOGI) is a provider of personal peripherals for computers and other digital platforms.
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