BofA Securities Downgrades Logitech International (LOGI) to Underperform

BofA Securities analyst Didier Scemama downgraded Logitech International (NASDAQ: LOGI) from Neutral to Underperform with a price target of $90.00 (from $105.00).

The analyst comments: "We downgrade LOGN to Underperform from Neutral and reduce our Pos CHF80/US$90 from CHF 91/US$105). We cut our FY26/27E revenue estimates by 2.6% and our EPS estimates by 6-10%, reflecting lower GM assumptions and a weaker mix. At our PO the stock would trade on 15x FY26E EV/EBITDA, down from 16x prior on a lower growth rate, in line with its historical median multiple (range of 10x to 21x ex. COVID). Our more pessimistic growth assumptions for Pointing Devices and Gaming are less than offset by more optimism for Video Collaboration. All in all, we are concerned that the stock could struggle to re-rate further if growth disappoints."

For an analyst ratings summary and ratings history on Logitech International click here. For more ratings news on Logitech International click here.

Shares of Logitech International closed at $101.21 yesterday.

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