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Increasing competition could add to challenges for this electronics company, UBS warns

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Analyst Joern Iffert downgraded the stock to sell from neutral. Iffert also cut his price target to CHF43 from CHF57.

His new price target implies the stock will fall more than 20%. U.S.-listed shares of Logitech fell more than 1% in the premarket. "We think Logitech is facing increasing challenges," Iffert said in a note to clients Wednesday. Logitech beat Wall Street consensus when reporting fiscal fourth quarter earnings Monday. The company posted 50 cents in adjusted earnings per share, higher than the 41 cents expected by analysts polled by StreetAccount. Logitech also reported $960.

mountain Logitech — CNBC's Michael Bloom contributed to this report.

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