Canaccord Genuity Maintains a 'Hold' on Research In Motion (RIMM); Update From CES, PlayBook Demo
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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 of $15.00.
Canaccord analyst said, "During CES in Las Vegas, we met with Investor Relations from RIM and senior product managers demoed BlackBerry 2.0 OS for the Playbook with Android Player and BlackBerry 7.1. While we were impressed with the improvements BlackBerry 2.0 offers, we believe it still lags competing tablet offerings. With competing OEMs continuing to introduce high-end smartphone products on more established software ecosystems and low-cost Android smartphones pressuring RIM’s international margins, we believe sales and earnings will remain under pressure until BlackBerry 10 smartphones launch in late C2012."
"While we believe RIM management is focused on improved product execution during 2012, we believe new BB 10 smartphones will launch into an even more competitive smartphone market, as we anticipate innovative new Android LTE (Nasdaq: GOOG) smartphones from multiple OEMs, a significant increase in Windows (Nasdaq: MSFT) smartphone offerings from Nokia (NYSE: NOK) and other OEMs, and a refreshed LTE iPhone 5 (Nasdaq: AAPL) by the time BB 10 smartphones launch."
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 $15.51 yesterday, with a 52 week range of $12.45-$70.54.
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Canaccord analyst said, "During CES in Las Vegas, we met with Investor Relations from RIM and senior product managers demoed BlackBerry 2.0 OS for the Playbook with Android Player and BlackBerry 7.1. While we were impressed with the improvements BlackBerry 2.0 offers, we believe it still lags competing tablet offerings. With competing OEMs continuing to introduce high-end smartphone products on more established software ecosystems and low-cost Android smartphones pressuring RIM’s international margins, we believe sales and earnings will remain under pressure until BlackBerry 10 smartphones launch in late C2012."
"While we believe RIM management is focused on improved product execution during 2012, we believe new BB 10 smartphones will launch into an even more competitive smartphone market, as we anticipate innovative new Android LTE (Nasdaq: GOOG) smartphones from multiple OEMs, a significant increase in Windows (Nasdaq: MSFT) smartphone offerings from Nokia (NYSE: NOK) and other OEMs, and a refreshed LTE iPhone 5 (Nasdaq: AAPL) by the time BB 10 smartphones launch."
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 $15.51 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
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