Logitech seen rising on outlook hike, strong Q1 results
** Shares in Logitech LOGN.S are seen rising 7.1% in Julius Baer pre-market indications after the Swiss-American computer peripherals maker raised its FY sales and profit forecasts and posted upbeat Q1 results
** Logitech expects FY sales of $4.34-4.43 billion vs. previously targeted $4.3-4.4 billion; its non-GAAP operating income is expected to be in the range of $700-730 million, vs $685-715 million previously
** Its Q1 non-GAAP operating income rose to $153.5 million from $78.4 million a year earlier
** "Logitech delivered a convincing set of results, which reflects strong execution and channel inventory management according plan," Vontobel says
** "Given the latest data points on PC peripherals channel refill, a beat was expected, in our view, but still the magnitude is a positive surprise," Stifel says
** The stock is seen at the top of Swiss blue-chip index .SSMI in pre-market indications
Reporting by Ozan Ergenay
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