12:15 AM EDT, 05/01/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target to $90 from $84, on a P/E of 20x our CY 25 EPS view of $4.52, in line with its three-year historical average. We lift our FY 25 (Mar.) EPS view to $4.43 from $3.76 and start FY 26's at $4.64. LOGI posted Q4 EPS of $0.57 vs. $0.50, above consensus. Sales grew 5%, ahead of expectations, to $1B. Top-line strength was broad-based across products, offsetting an 18% decline in Tablet Accessories. Gross margin expanded 730 bps to 43.6% on lower product costs, reduced promotional spend, and lower excess inventory. This drove inventory turns to 5.4 vs. 3.6 as LOGI leans into 2025 promotional periods. We're constructive on LOGI's move to expand its gaming TAM ($1B on pc/mobile front) and tap into AI-powered software with its Logi Prompt Builder platform. The video conferencing segment also remains a catalyst, aided by cloud partnerships (MSFT, GOOG, ZOOM). While some consumer headwinds linger near-term, LOGI's diversification, cost rigor, and $797M FCF provide flexibility as demand recovers.