Logitech downgraded to Neutral from Buy at BofA

BofA analyst Didier Scemama downgraded Logitech (LOGI) to Neutral from Buy with a price target of $92, down from $114, citing a “lukewarm” consumer recovery. Given the weight of the consumer end-market, the firm expects factory utilization rates at the leading edge to remain under pressure, impacting orders for Semicaps and foundries and in memory for 2025, the analyst tells investors.