UPDATE: Bank of America Downgrades Meru Networks from Buy to Underperform, Slashes PT to $10

Bank of America downgraded its rating on Meru Networks (NASDAQ: MERU) from Buy to Underperform. At the same time, the rating agency reduced its price target on the company's stock from $15 to $10. On Wednesday, MERU lost 3.8% of its value to finish the day at $9.61.

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