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Fri 08 Aug 2007Merrion downgrades IN&M to a 'hold'One More Thing:It is interesting to note that Merrion Stockbrokers has broken from the pack and downgraded Independent News Media from a "buy" to a "hold".In a report released to clients on Tuesday, analyst Gavin Kelleher, a recent recruit from Goodbody Stockbrokers, said IN&M's share price was "close to fair value" and gave it a €3.30 price target. The stock was trading about €3.10 at the time and has since nudged above the €3.20 mark.