Oppenheimer Negative on RIM (RIMM), But May Be Too Risky to Short
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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!
Oppenheimer commented on Research In Motion Ltd. (NASDAQ: RIMM) following news after the close about a Q1 loss and the announcement it has hired bankers to review a possible options.
"RIM provided discouraging commentary after the close, indicating a likely operating loss for the May quarter and more pressure ahead. We don't see any easy answers and are not convinced the late-2012 BB10 launch can solve RIM's extensive problems as competition will be stepping up as well and RIM will have no momentum. We're negative on the shares and believe fundamentals will get much worse before they get better with further risk to estimates. With that said, we believe aggressive shorting at this point could be risky. News flow discussing a potential take-out, of strategic shifts, and of job cuts and aggressive cash conservation could lead to quick and unpredictable swings in the shares."
The firm maintained their Perform rating.
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, with a 52 week range of $10.57-$43.91.
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"RIM provided discouraging commentary after the close, indicating a likely operating loss for the May quarter and more pressure ahead. We don't see any easy answers and are not convinced the late-2012 BB10 launch can solve RIM's extensive problems as competition will be stepping up as well and RIM will have no momentum. We're negative on the shares and believe fundamentals will get much worse before they get better with further risk to estimates. With that said, we believe aggressive shorting at this point could be risky. News flow discussing a potential take-out, of strategic shifts, and of job cuts and aggressive cash conservation could lead to quick and unpredictable swings in the shares."
The firm maintained their Perform rating.
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, with a 52 week range of $10.57-$43.91.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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