Piper Jaffray Maintains a 'Neutral' on Research In Motion (RIMM); Lowers Price Target on Mixed Sales Data
RIMM Hot Sheet
Rating Summary:5 Buy, 32 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Piper Jaffray & Co. maintains a 'Neutral' rating on Research In Motion (Nasdaq: RIMM), lowers price target from $67 to $63.
Piper analyst says, "Our October channel checks indicated mixed BlackBerry sales as solid sales of the Tour at Sprint (NYSE: S) and Verizon (NYSE: VZ), solid initial sales of the Storm2, and continued carrier promotions were offset in part due to weak sales at AT&T (NYSE: T) and T-Mobile...We maintain our Neutral rating as our longer-term concerns remain increasing smartphone competition and the potential for longer-term declining ASPs and margins."
To see more analyst ratings on RIMM Click Here.
Piper analyst says, "Our October channel checks indicated mixed BlackBerry sales as solid sales of the Tour at Sprint (NYSE: S) and Verizon (NYSE: VZ), solid initial sales of the Storm2, and continued carrier promotions were offset in part due to weak sales at AT&T (NYSE: T) and T-Mobile...We maintain our Neutral rating as our longer-term concerns remain increasing smartphone competition and the potential for longer-term declining ASPs and margins."
To see more analyst ratings on RIMM Click Here.
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