Needham & Company Maintains a 'Hold' on Research In Motion (RIMM); One Hope Left...BB10

June 29, 2012 7:47 AM EDT
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Price: $14.64 +12.36%

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Needham & Company maintains a 'Hold' on Research In Motion Ltd. (NASDAQ: RIMM).

Analyst, Charlie Wolf, said, "RIM reported first quarter results that were even worse than its predicted earnings warning on May 29th. We are maintaining our Hold rating only because of the admittedly slim prospect that BlackBerry 10, now due early next year, can reverse the downward spiral the company finds itself in."

"We’re cutting our fiscal 2013 from a loss of $0.25 to a loss of $2.00 in part because of the late arrival of BB 10. We’re initiating a 2014 estimate of $0.35 on the optimistic assumptions that BlackBerry 10 will match or possibly exceed management‘s expectations."

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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