PLT - Poly gains as much as 14% as Evercore sees upside in Logitech's results

Evercore sees yesterday's Logitech beat-and-raise suggesting that Plantronics/Poly (PLT) can "clear a very low bar" with its earnings report on October 29.Analyst Amit Daryanani says Logitech's results pointed to a "very strong" video market, which is positive for PLT, but doesn't expect "Poly’s growth to come anywhere near what Logitech reported given Poly will be weighed down by more office-centric products."Evercore maintains an In-Line rating and $15 price target on Poly.PLT shares are up 10.5% to $19.31 after trading up as high as 14% intraday.Previously: Logitech easily beats estimates, boosts outlook (Oct. 20 2020)

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Poly gains as much as 14% as Evercore sees upside in Logitech's results