Logitech shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $85 to $75.
Portfolio Pulse from Benzinga Newsdesk
Logitech's stock trades lower following a downgrade by Morgan Stanley from Equal-Weight to Underweight, with a price target reduction from $85 to $75.
April 15, 2024 | 12:22 pm
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Logitech's stock experienced a decline after Morgan Stanley downgraded the stock to Underweight and reduced its price target.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as investors adjust their expectations based on the new analyst outlook. The reduction in price target further impacts investor sentiment by suggesting a lower future valuation for the company.
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