BofA downgraded Logitech to Underperform from Neutral with a price target of $86, down from $108. The firm believes demand for Logitech products will likely to "worsen materially" over the next 12-18 months due to price hikes across PCs, tablets, smartphones and gaming systems. Demand destruction likely post the company's material price hikes, the analyst tells investors in a research note. As such, BofA expects Logitech's revenue and earnings to miss consensus expectations.
