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Downgrades:
Other:
Hewlett-Packard (HPQ) reinstated with a Buy at BofA/Merrill; tgt $47
Nike (NKE) target raised to $110 from $100 at Stifel
Microsoft (MSFT) initiated at Overweight at Piper Jaffray, target $54
Microsoft (MSFT) reiterated at Outperform at FBR Capital, target raised from $53 to $57