Canaccord Genuity Maintains a 'Hold' on Research In Motion (RIMM); Checks Indicate Weak Trends Entering F2013
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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: 13 | Down: 25 | New: 24
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade RIMM Now!
Canaccord Genuity maintains a 'Hold' on Research In Motion Ltd. (NASDAQ: RIMM) price target of $15.00.
Analyst, T. Michael Walkley, said, "Our monthly channel checks indicated weak sell-through trends for BlackBerry 7 smartphones despite increased marketing efforts. With strong share gains for the iPhone 4S (Nasdaq: AAPL), increasingly price-competitive Android smartphones (Nasdaq: GOOG), improving Windows (Nasdaq: MSFT) smartphones, and strong initial sales trends for the new iPad, we anticipate increasing competition across all of RIM’s products."
Walkley sees RIM pushing out 2 low end Blackberry devices around the same time the 10 smartphone is released, in order to keep subscribers in emerging markets.
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 $14.04 yesterday, with a 52 week range of $12.45-$57.95.
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Analyst, T. Michael Walkley, said, "Our monthly channel checks indicated weak sell-through trends for BlackBerry 7 smartphones despite increased marketing efforts. With strong share gains for the iPhone 4S (Nasdaq: AAPL), increasingly price-competitive Android smartphones (Nasdaq: GOOG), improving Windows (Nasdaq: MSFT) smartphones, and strong initial sales trends for the new iPad, we anticipate increasing competition across all of RIM’s products."
Walkley sees RIM pushing out 2 low end Blackberry devices around the same time the 10 smartphone is released, in order to keep subscribers in emerging markets.
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 $14.04 yesterday, with a 52 week range of $12.45-$57.95.
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