Goldman Sachs analyst Mohammed Moawalla upgraded Logitech (LOGI) to Buy while lowering his price target for the shares to 44 francs from 47.50 francs. The stock has underperformed the Europe Technology group by 17% in last six months despite "strong management execution and continuing secular growth avenues," Moawalla tells investors in a research note. He believes Logitech can deliver 9% annual revenue growth through fiscal 2024 and sees an attractive entry point at current share levels. Moawalla continues to see structural drivers of growth for the company, driven by the Gaming and Video Collaboration segments. His top picks in the Europe Technology sector are SAP (SAP), ASML (ASML), Wirecard (WCAGY) and Capgemini (CGEMY).
News For LOGI;SAP;ASML;WCAGY;CGEMY From the Last 2 Days
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Unusual total active option classes on open include: Steel Dynamics (STLD), Gildan Activewear (GIL), Danaher (DHR), Altimeter Growth (GRAB), Childrens Place (PLCE), ASML (ASML), US Bancorp (USB), iShares Barclays 7 to 10 Year Treasury Bond Fund (IEF), AMC Entertainment (AMC), and Abbott (ABT).
Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - Alcoa (AA)... To see the rest of the story go to thefly.com. See Story Here
"We expect second-quarter total net sales between EUR 5.7 billion and EUR 6.2 billion with a gross margin between 50% and 51%. ASML expects R&D costs of around EUR 1,070 million and SG&A costs of around EUR 295 million. Our outlook for the full year 2024 is unchanged, with the second half of the year expected to be stronger than the first half, in line with the industry's continued recovery from the downturn. We see 2024 as a transition year with continued investments in both capacity ramp and technology, to be ready for the turn in the cycle," said ASML president and CEO Peter Wennink.