Barclays on Research In Motion Ltd. (RIMM): Given Cash Burn Rate, BB10 Can't Come Soon Enough

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Barclays maintains an 'Equalweight' on Research In Motion Ltd. (NASDAQ: RIMM) price target of $6.00 (from $8.00).

Analyst, Jeff Kvaal, said, "We now expect F1Q weakness to continue through FY13. We lower our EPS estimates materially and believe RIM's cash balance will decline towards $3 before BB10 launch."

Kvaal cuts FY13 EPS estimate from (0.54) to (1.98) and FY14 from $0.11 to (1.04)..

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 $9.13 yesterday, with a 52 week range of $8.83-$33.54.

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