Logitech shares could see big gains from here, according to Goldman Sachs. Analyst Alexander Duval upgraded Logitech to buy from neutral, saying in a Monday note to clients that positive guidance from the company and support from gaming and video-conferencing trends will boost the software company. "We note strong recent execution and that the company has provided an outlook for growth in the coming fiscal year," Duval wrote. "Further, we see current valuation levels as attractive, and forecast re-accelerating topline expansion in FY23 onwards, given our view of strong secular trends in Gaming and Video-Conferencing, positioning the company as a key Digital Enabler." The analyst also hiked his price target on the stock, implying a 60% upside in locally traded shares. The Swiss company trades under the LOGI ticker in the U.S. A permanent shift to hybrid work will support Logitech, as analysts believe the "highly underpenetrated" video conferencing market will lead to a boost in webcam sales for the computer peripherals company. Growth in other video game companies will also help Logitech, which expects gaming to boost sales of keyboards, mice and microphones, according to Goldman. Shares for Logitech jumped 4.3% in Monday premarket trading. The Swiss company trades under the 'LOGI' ticker in the U.S. —CNBC's Michael Bloom contributed to this report.
Bracken Darrell, CEO, Logitech International
Scott Mlyn | CNBC
Logitech shares could see big gains from here, according to Goldman Sachs.