UBS downgraded Logitech (LOGI) to Neutral from Buy with a price target of CHF 80, down from CHF 88. The firm says the company’s positive consensus estimate revision cycle is easing with near-term to its gaming growth. The gaming market is showing some sign of maturity in Europe and the U.S., the analyst tells investors in a research note. UBS thinks Logitech may need to increase marketing spend to stimulate demand. It cites a lack of near-term catalysts and mixed end market trends for the downgrade.
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