Canaccord Genuity Maintains a 'Hold' on Research In Motion (RIMM); Cutting Estimates & PT
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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!
Canaccord Genuity maintains a 'Hold' on Research In Motion Ltd. (NASDAQ: RIMM) price target lowered from $12 to $10.
Analyst, T. Michael Walkley, said, "Consistent with our checks indicating very soft BlackBerry smartphone sales in recent months, RIM provided updated guidance for an expected operating loss for the May quarter or well below our 5.4% operating margin estimate. While RIM no longer provides guidance, RIM management does expect continued soft results for the next couple quarters ahead of new BB10 smartphones targeted for a late C2012 launch. Given intense smartphone competition and our expectations for many rival product launches including an LTE iPhone 5 (Nasdaq: AAPL) before RIM’s BB10 refresh, we maintain our bearish view on RIM fundamentals."
"We lower our F2013 pro forma EPS estimate from $1.43 to $(0.01) and our
F2014 estimate from $1.19 to $(0.20)."
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, T. Michael Walkley, said, "Consistent with our checks indicating very soft BlackBerry smartphone sales in recent months, RIM provided updated guidance for an expected operating loss for the May quarter or well below our 5.4% operating margin estimate. While RIM no longer provides guidance, RIM management does expect continued soft results for the next couple quarters ahead of new BB10 smartphones targeted for a late C2012 launch. Given intense smartphone competition and our expectations for many rival product launches including an LTE iPhone 5 (Nasdaq: AAPL) before RIM’s BB10 refresh, we maintain our bearish view on RIM fundamentals."
"We lower our F2013 pro forma EPS estimate from $1.43 to $(0.01) and our
F2014 estimate from $1.19 to $(0.20)."
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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