Key Takeaways From Netherlands Roadshow

Logitech's management highlighted sustained growth opportunities in China, low video collaboration penetration, and massive potential within the existing PC installed base. The company remains Buy rated with a SFr 95 target price.

Key Takeaways

• 1.China-for-China strategy continues to drive double-digit growth despite a moderation from prior high levels.
• 2.Video Collaboration (VC) is significantly underpenetrated, with less than 25% of meeting rooms currently enabled.
• 3.Low peripheral attach rates across the 1.5bn PC installed base provide a multi-year growth runway.

Table of Contents

• Valuation and key risks
• Disclosure Appendix
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures
• Global product; distributing entities
• General disclosures

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