Barclays Cuts Price Target and Estimates on Research In Motion (RIMM); Only Event Driven Now
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Price: $14.64 +12.36%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade RIMM Now!
Barclays maintains an 'Equalweight' on Research In Motion Ltd. (NASDAQ: RIMM) price target lowered from $10 to $8.
Analyst, Jeff Kvaal, said, "Likely loss implies QoQ unit decline of ~50% to ~6mn units: RIM hadn't provided guidance, but did say an operating loss is now likely. We believe the US market remains the weakest region."
Although Kvaal thinks that a strategic review will help advisors find a few rays of light including sub base, sell through and Blackberry10 which should still be on track. However, he thinks that the stock will purely be event driven from here on out.
Barclays lowers Q1 EPS from $0.19 to ($0.25). FY13 from $0.10 to ($0.54) and FY14 from $0.75 to $0.11.
For an analyst ratings summary and ratings history on Research In Motion Ltd. click here. For more ratings news on Research In Motion Ltd. click here.
Shares of Research In Motion Ltd. closed at $11.23 yesterday, with a 52 week range of $10.57-$43.91.
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Analyst, Jeff Kvaal, said, "Likely loss implies QoQ unit decline of ~50% to ~6mn units: RIM hadn't provided guidance, but did say an operating loss is now likely. We believe the US market remains the weakest region."
Although Kvaal thinks that a strategic review will help advisors find a few rays of light including sub base, sell through and Blackberry10 which should still be on track. However, he thinks that the stock will purely be event driven from here on out.
Barclays lowers Q1 EPS from $0.19 to ($0.25). FY13 from $0.10 to ($0.54) and FY14 from $0.75 to $0.11.
For an analyst ratings summary and ratings history on Research In Motion Ltd. click here. For more ratings news on Research In Motion Ltd. click here.
Shares of Research In Motion Ltd. closed at $11.23 yesterday, with a 52 week range of $10.57-$43.91.
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