Jefferies Slashes Numbers on RIM (RIMM), Doesn't See an Imminent Sale

May 30, 2012 8:12 AM EDT
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Price: $14.64 +12.36%

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    Up: 13 | Down: 22 | New: 54
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Jefferies cut estimates and its price target on Underperform-rated Research In Motion Ltd. (NASDAQ: RIMM) from $12 to $10 after yesterday's negative pre-announcement.

"We do not believe the hiring of strategic advisors portends an imminent sale of the company as we think BB10 (and Windows 8) needs to launch first," analyst Peter Misek said.

The firm cut FQ1 (May) EPS from $0.53 to $(0.01) (St $0.41); FQ2 (Aug) $0.22 to $(0.06) (St $0.33); FY13 $1.87 to $0.90 (St $1.83).

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.

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