Merrill's Jonathan Tseng is cutting Logitech (LOGI +3.2%) to Underperform, believing estimates...

|About: Logitech International S.A. (LOGI)|By:, SA News Editor

Merrill's Jonathan Tseng is cutting Logitech (LOGI +3.2%) to Underperform, believing estimates for the PC peripherals maker remain too high even after last month's warning. Tseng also thinks a strengthening dollar could hurt Logitech's margins, and the iPad's (AAPL) cannibalization of the notebook market could hurt its wireless mouse business.