Benzinga | Dec 13, 2021 08:27AM EST

Deutsche Bank Is Bullish On This Swiss Consumer Electronics Company

* Deutsche Bank analyst Robert Sanders initiated coverage of Logitech International SA (NASDAQ:LOGI) with a Buy rating and CHF 92 price target, implying 23% upside to December 10, 2021 closing price of CHF 74.82.

* With the shares down 40% since June, investors "appear to have lost faith" in Logitech's ability to grow sustainably following the Covid boom year of fiscal 2021, Sanders tells investors in a research note.

* However, the analyst believes investors are under-appreciating both the "huge increase" in the company's installed base that has occurred and the shortened replacement cycle for Logitech's products.

* Logitech is a Switzerland-based provider of personal computers and mobile accessories.

* Price Action: LOGI shares traded higher by 1.60% at $82.59 in the premarket session on the last check Monday.