Citi Slashes Target on RIM (RIMM), Says Co. May Run out of Cash in 2-Years

June 29, 2012 7:55 AM EDT
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Price: $14.64 +12.36%

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    Up: 22 | Down: 16 | New: 13
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Citi reiterated their Sell rating and cut their price target on Research In Motion Ltd. (NASDAQ: RIMM) from $9.50 to $5.00.

The firm said RIM may run out of cash within two years and said the BB10 is too little too late.

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.

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