Deutsche Bank Cuts PT and Estimates on Research In Motion (RIMM); Tough Quarter, Tougher Future

June 29, 2012 8:25 AM EDT
Get Alerts RIMM Hot Sheet
Price: $14.64 +12.36%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Deutsche Bank maintains a 'Hold' on Research In Motion Ltd. (NASDAQ: RIMM) price target of $8.00 (from $13.00).

Analyst, Brian Modoff, said, "RIM announced Q1 revenues of $2.8b, below our estimate of $3.9b and consensus $3.1 b. Pro-forma EPS was ($0.37), slightly above our estimate of ($0.39) but well below consensus ($0.05). The company shipped 7.8m units in the quarter. Given the number of problems at the company, placed against the chance that BB10 is a success, or the increasingly unlikely scenario that the company is seen as a buyout candidate, we maintain our rating, but lower PT."

FY13 EPS estimate cut from (0.61) to (2.36).

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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