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Fly News Breaks for November 5, 2018
LOGI
Nov 5, 2018 | 08:34 EDT
Maxim analyst Nehal Chokshi initiated Logitech with a Sell rating and a price target of $31. The analyst notes that although the company's CEO Bracken Darnell has improved its culture with "better acquisitions, better engineering, and better morale", only a third of Logitech's revenues are tied to secular growth markets. Chokshi further states that the majority of its sales is "tied to flattish-to-declining installed bases", adding that he sees the company's FY20 EPS target of $2 per share at "significant risk".
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