Logitech downgraded to Sell from Neutral at UBS

UBS analyst Joern Iffert downgraded Logitech to Sell from Neutral with a price target of CHF 43, down from CHF 57. The analyst is below the company’s medium term targets and consensus estimates for fiscal 2025 and 2026 and says technology and competition could be "at an inflection point." The firm sees risk of rising competition from larger consumer companies. Tight consumer electronics end markets could result in ongoing promotions dragging on Logitech’s gross margins, the analyst tells investors in a research note.