RTTNews | Sep 28, 2021 10:25AM EDT

10:25 Tuesday, September 28, 2021 (RTTNews.com) - Shares of Logitech International S.A. (LOGI) are slipping over 7% on Tuesday morning after Morgan Stanley downgraded the company to Underweight from Equal Weight.

LOGI is currently trading at $89.67, down $7.11 or 7.35%, on the Nasdaq. The stock has traded between $75.11 and $140.17 in the 52-week period.

Morgan Stanley analyst Katy Huberty downgraded Logitech to Underweight from Equal Weight with a price target of $82, down from $119, implying a downside of 17.5%. The report noted that the firm's data shows cyclical tailwinds were fading and difficult year-over-year growth comparisons approaching for Logitech.

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