Logitech International SA (LOGI) saw its stock plummet 6.09% in pre-market trading following a downgrade by Morgan Stanley. The firm lowered its rating from "Equal Weight" to "Underweight" and slashed the target price from $107 to $89, citing concerns over the company's outlook.

The downgrade has significantly impacted investor sentiment, leading to a sharp decline in Logitech's stock price. Analysts have noted that such a move by a major financial institution often triggers a sell-off as investors reassess their positions based on the revised outlook.