Craig-Hallum bullish on Corsair Gaming, initiates with a Buy

As previously reported, Craig-Hallum initiated coverage of Corsair Gaming (CRSR) with a Buy rating and $12 price target The firm believes Corsair is in a strong position given solid near-term catalysts for a stock that remains undervalued vs gaming and consumer hardware comparable sales. Craig-Hallum urges investors to pay attention to the gaming accessory and do-it-yourself PC build refresh cycles driven by the expected launch of GTA 6 in May and new AMD (AMD) and Nvidia (NVDA) GPU launches, respectively. Further, it thinks the company is in a solid position to benefit from the growing use cases for AI as PC users need higher performance components to run AI programs benefiting Corsair’s DIY PC business.