Logitech rated buy with 12% upside, driven by AI-enabled B2B growth and strong 2026 fundamentals.

Logitech is rated a buy with a price target of $120 for fiscal year 2027, implying a 12% upside from current levels. The company’s growth is expected to be driven by acceleration in its B2B segment, especially through AI-enabled products, which should boost margins and potentially re-rate Logitech as a high-margin enterprise player. Fiscal year 2026 showed strong fundamentals with 6% year-over-year net sales growth to $4.8 billion, an 18.8% non-GAAP operating margin, and a 16% increase in cash balance with no debt. Key growth drivers include continued B2B expansion, potential recovery in Middle East logistics, and strong operating leverage, though risks remain from the pace of B2B adoption and geopolitical factors.