Logitech $LOGI Stock Resurrection Cross

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Logitech $LOGI stock looks set to do a Resurrection Cross during the week of January 3, 2023. The stock is trading in an uptrend channel. $LOGI stock is in a technical strong uptrend.

Logitech stock chart on January 2 2023 with a Resurrection Cross and positive money flow
Logitech stock chart on January 2 2023 with a Resurrection Cross and positive money flow

Citi Raises Logitech Target Price

On December 21, 2022, Citi analyst Asiya Merchant maintained a Buy rating on the stock while increasing the price target for Logitech from $65 to $75. Additionally, Asiya Merchant published a favorable catalyst watch on the stock. In a research note to investors, Merchant states that as availability of gaming devices improves during the holiday shopping season, there will likely be a rise in demand for gaming peripherals, which account for 25% of Logitech’s revenue. Looking ahead to 2023, the analyst thinks that as component and currency headwinds subside, easier comps along with a sizable and expanding installed base of gamers, content creators, and hybrid workers create the potential for margins to tick up.

Logitech Price Target Raised at Wedbush

Wedbush analyst Alicia Reese maintained an Outperform rating on the shares of Logitech and increased the price target for the company to $70 from $65 on December 6, 2022. As long as Logitech exceeds expectations in the upcoming quarters, the analyst expects shares to continue rising from their low points. Reese believes that even though Logitech is dealing with macroeconomic headwinds and currency pressure, the company is still in a strong position to gain market share. He thinks PC peripherals and video conferencing will continue growing as a result of hybrid work, and also long-term growth in global gaming. Finally, he thinks Logitech’s user base will grow as those who were affected by the pandemic begin the upgrade cycle in the next two years.

Logitech CEO on cutting costs, reassembling the home office

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