Logitech dips after JPMorgan cuts rating citing challenging macro

seekingalpha05-01

Logitech International's (NASDAQ:LOGI) stock fell about 2% premarket on Wednesday after JPMorgan Chase downgraded the shares to Neutral from Overweight. The firm also lowered the price target on the ...

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The firm also lowered the price target on the ...</p>\n\n<a href=\"https://seekingalpha.com/news/4097210-logitech-dips-after-jpmorgan-cuts-rating-citing-challenging-macro\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Logitech dips after JPMorgan cuts rating citing challenging macro</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLogitech dips after JPMorgan cuts rating citing challenging macro\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-01 20:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4097210-logitech-dips-after-jpmorgan-cuts-rating-citing-challenging-macro><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Logitech International's (NASDAQ:LOGI) stock fell about 2% premarket on Wednesday after JPMorgan Chase downgraded the shares to Neutral from Overweight. The firm also lowered the price target on the ...</p>\n\n<a href=\"https://seekingalpha.com/news/4097210-logitech-dips-after-jpmorgan-cuts-rating-citing-challenging-macro\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0320765489.SGD","symbol_name":"FTIF - Franklin Mutual US Value A Acc SGD","start_time":0,"source_url":"https://seekingalpha.com/news/4097210-logitech-dips-after-jpmorgan-cuts-rating-citing-challenging-macro","article_id":"2432057507","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/499676678/image_499676678.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432057507","pubTimestamp":1714566451,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Logitech International's (NASDAQ:LOGI) stock fell about 2% premarket on Wednesday after JPMorgan Chase downgraded the shares to Neutral from Overweight. 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The firm also lowered the price target on the stock to $85 from $92. On Tuesday, the Swiss company reported its fourth quarter results, which beat estimates, and also provided its outlook for fiscal year 2025. The analysts noted that even though the quarter showed continued signs of robust execution, they believe rebounding of the product portfolio to healthy growth in the medium term will remain constrained by a challenging macro. In addition, efforts to drive growth will likely need to return to robust promotional levels. Logitech's execution in recent quarters, related to driving the balance of revenue and gross margin, has positively surprised investors, according to the analysts. However, the analysts noted that the setup is now less about optimizing for lower year-over-year declines in revenue in fiscal 2024 as the focus will move to driving healthy revenue growth in fiscal 2025 while still delivering margin upsides. In addition, the analysts noted that Logitech's plan for return to growth in FY25 is also steered by expectations for stronger growth in more macro-driven product categories, including in Tablet accessories, Keyboards and Gaming in China, which will likely lead to the company choosing between margins and promotion-driven revenue upsides. Logitech's (LOGI) has a Buy rating at Seeking Alpha's Quant Rating system, which consistently beats the market. Meanwhile, the Seeking Alpha authors' average rating is Hold and so is the average Wall Street analysts' rating, Hold.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432057507"}