Analyst Says RIM (RIMM) Has Only 15% Chance of Success

January 31, 2013 1:14 PM EST
Get Alerts RIMM Hot Sheet
Price: $14.64 +12.36%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 10
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Yesterday Research In Motion Ltd. (NASDAQ: RIMM) unveiled its highly anticipated new smartphone, the BB10. Overall, according to analysts at MKM, BB10's features are strong, but U.S. availability and pricing are concerns.

"We left [yesterday's] highly anticipated BlackBerry 10 launch event in New York City impressed by the new OS, but disappointed by the U.S. launch date and pricing," said analyst Michael Genovese. "BB10 looks generally technologically competitive with iOS, Android and WP8. However, we do not think it is differentiated enough to strongly reverse the company's market share losses."

"We continue to believe there is an 85% chance the stock is headed much lower and a 15% chance it is going much higher," concluded Genovese.

MKM Partners has a Neutral rating on Research In Motion Ltd. with a revised price target of $12.00 (from $11.00).

For an analyst ratings summary and ratings history on Research In Motion Ltd. (NASDAQ: RIMM) click here. For more ratings news on Research In Motion Ltd. click here.

Shares of Research In Motion Ltd. closed at $13.78 yesterday.

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