Major Bank Rating | Bank of America: Downgraded Logitech’s rating to “Underperform,” citing concerns about demand outlook
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Glonghui, June 30 | Bank of America downgraded Logitech's rating from "Neutral" to "Underperform" and sharply cut its target price by 18% from $108 to $86. The bank warned that rising hardware prices are affecting the entire consumer electronics ecosystem, and demand for Logitech's products is expected to deteriorate significantly over the next 12 to 18 months.
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