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Logitech International SA (LOGI) Downgraded by Zacks to NEUTRAL

Zacks Zacks Investment Research downgraded shares of Logitech International SA (LOGI) from OUTPERFORM to NEUTRAL on March 18, 2015, with a target price of $13.00.

Logitech again reported strong quarterly results, with third-quarter fiscal 2015 earnings soaring past the Zacks Consensus Estimate and year-ago quarter figure. Strong performances for PC Gaming and Mobile Speakers again remained the growth drivers. Encouraged by another quarter of strong results, the company raised its fiscal 2015 operating income guidance for the second time. It remains focused on driving growth by offering new and innovative products and cost-streamlining initiatives. In addition, Logitech recently disclosed a three-year capital allocation plan. However, rising operating expenses and stiff competition remain matters of concern. Also, currency fluctuation risks remain an overhang.

To get a free copy of the research report on Logitech International SA (LOGI), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com .

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