Canaccord Genuity Lowers Estimates on Research In Motion (RIMM); Channel Checks Indicate Weak Sales

Article Stock Quotes (4) Comments (0)

Canaccord Genuity maintains a 'Hold' on Research In Motion (NASDAQ: RIMM) price target of $15.00.

Analyst, T. Michael Walkley, said, "Our January checks indicated weak sell-through trends for the new BlackBerry 7 smartphones despite increased marketing efforts. With very strong share gains for the iPhone 4S (Nasdaq: AAPL), increasingly price competitive Android smartphones, improving Windows (Nasdaq: MSFT) smartphones, and strong sales of the affordable 7 inch Amazon Kindle Fire (Nasdaq: AMZN) tablet, we anticipate increasing competition across all tiers of RIM’s products in C2012...We are lowering our F2012 pro forma EPS estimate from $3.48 to $3.37 and our F2013 estimate from $2.50 to $2.10."

For an analyst ratings summary and ratings history on Research In Motion click here. For more ratings news on Research In Motion click here.

Shares of Research In Motion closed at $16.49 yesterday, with a 52 week range of $12.45-$70.54.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
• UPDATE: JPMorgan Cuts SodaStream (SODA) to Neutral, 'Stock No Longer Cheap'
• Compuware (CPWR) Estimates Trimmed, PT Raised at Jefferies

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Kindle

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?