BofA downgraded Logitech (LOGI) to Underperform from Neutral with a price target of $90, down from $105. The firm cut revenue and earnings estimates to reflect lower gross margin assumptions and a weaker mix. The more pessimistic growth assumptions for Pointing Devices and Gaming are less than offset by more optimism for Video Collaboration, the analyst tells investors in a research note. BofA is concerned the stock could struggle to re-rate further if Logitech’s growth disappoints.
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Read More on LOGI:
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