Computer parts maker Logitech rises 9% after Q3 beat, outlook upgrade
FILE PHOTO: A view of the Logitech logo on a building at the EPFL Innovation Park in Ecublens near Lausanne, Switzerland, April 30, 2024. REUTERS/Denis Balibouse/File photo
Shares in Logitech jumped as much as 9.4 per cent at 0835 GMT on Wednesday, a day after the Swiss-American computer keyboard and mouse-maker raised its full-year outlook and posted a third-quarter sales beat.
The results underscore the company's strong execution, driven by high demand across regions and product categories alongside a robust margin performance, which positions Logitech well for sustained long-term growth, said analysts from JP Morgan.
The guidance upgrade leaves room for an upside for the fourth quarter, the analysts added.
If gains persist, the stock will rise 17 per cent so far this year.
Shares are on track for a best day since October 2023, topping the Swiss blue-chip index.
