Logitech downgraded to Neutral from Outperform at Credit Suisse

Credit Suisse analyst Serge Rotzer downgraded Logitech to Neutral from Outperform with a price target of CHF 52, down from CHF 62. Continued high macroeconomic uncertainties have led the company to provide guidance only for the first half of the year and not for the full fiscal 2024, the analyst tells investors in a research note. The firm sees "little prospect of growth" in the next six months in a challenging interest rate environment for Logitech and does not see any short-term catalysts for the shares.