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

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.
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