9:59AM QLogic cut to Underperform at Piper Jaffray; target $20 (QLGC) 39.87 -1.96: USB Piper Jaffray downgrades to Underperform from Mkt Perform based on valuation and decelerating revenues; price target is $20. Larry Dudash <A HREF="http://www.geocities.com/larrydudash2004/index.html" target="_new">http://www.geocities.com/larrydudash2004/index.html</A>