Raymond James Cuts Price Target on RIM (RIMM) to $72
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Raymond James lowers its price target on Research In Motion (Nasdaq: RIMM) from $80 to $72.
After closing at $42.47 on Friday's abbreviated trading session, shares of Research In Motion are currently about 2.3% lower to $41.50 in pre-market trading.
Shares of Research In Motion have been under heavy pressure since the beginning of September when analysts first started getting bearish on the stock. The cycle began with firms first cutting their price targets on the stock, but soon downgrades were hitting the BlackBerry maker, sending the stock about 65% lower from over $120 to under $50 in just 3 months.
To see a history of all the analyst comments, including upgrades/downgrades and price target revisions, on Research In Motion over the last few months, visit StreetInsider.com's Analyst Ratings page on the stock.
Research In Motion Limited engages in the design, manufacture, and marketing of wireless solutions for the mobile communications market worldwide.
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