Stock Track | Logitech International SA Plunges 6.09% in Pre-Market After Morgan Stanley Downgrade
Stock Track
Jan 20
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.
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