Logitech price target lowered to $70 from $75 at Citi

Citi analyst Asiya Merchant lowered the firm’s price target on Logitech to $70 from $75 and keeps a Buy rating on the shares. The company’s "dismal" results and "weak" guidance are largely in line with the negative preannouncement and reflect a very challenging macro environment, mainly in enterprise video, as well as a more constrained channel, the analyst tells investors in a research note. However, the firm adds that underlying sell through suggests "better than feared end demand dynamics."