10:40 AM EDT, 07/16/2024 (MT Newswires) -- Logitech International ( LOGI ) saw significant pandemic-era growth, but macroeconomic headwinds and currency pressures have halted its progress, Wedbush said in a note Tuesday.

"Logitech's ( LOGI ) fiscal year 2024 was the inflection point we assumed it was, and we expect improving trends in fiscal year 2025," the firm said.

Wedbush said the company can achieve higher results due to its improved inventory, segment growth and stabilizing regional trends.

Logitech's ( LOGI ) $1.5 billion cash reserve, no debt and investor-friendly capital allocation strategy, including dividends and share buybacks, position it well for future growth, the firm added.

The investment firm said the company's price target reflects a balance between its potential for growth and uncertainty regarding cash utilization, artificial intelligence integration, gaming and video collaboration expansion and maintaining its market share in personal computer peripherals.

The company's fiscal year 2025 guidance is conservative due to the pending appointment of a permanent chief financial officer and there is "a high likelihood of mergers and acquisitions once a permanent CFO settles in," the firm said.

Logitech's ( LOGI ) fiscal Q1 earnings are scheduled for Monday.

Wedbush reiterated its neutral rating on Logitech's ( LOGI ) stock and kept the price target at $88.

Price: 91.44, Change: -0.97, Percent Change: -1.05