Logitech downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley downgraded Logitech to Underweight from Equal Weight with a price target of $75, down from $85. Following an analysis, the firm forecasts “just” 3% annual revenue growth for the company through fiscal 2027, 200 basis points below consensus and 500-700 basis points below it believes is priced into the shares today. Logitech’s earnings on April 30 can be the first catalyst to drive a de-rating of the shares, the analyst tells investors in a research note. The firm cites the “growing divergence” between Logitech’s revenue growth and valuation, along with an upcoming catalyst, for the downgrade.