Canaccord Genuity Maintains a 'Hold' on Research In Motion (RIMM); Expect Eventual Sale of Company

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Canaccord Genuity maintains a 'Hold' on Research In Motion Ltd. (NASDAQ: RIMM) price target of $8.00 (from $10.00).

Analyst, T. Michael Walkley, said, "Consistent with our checks indicating weak BB 7 sales, we calculate RIM’s hardware business is now generating negative gross margin. With strong share gains for the iPhone 4S (Nasdaq: AAPL), increasingly price-competitive Android (Nasdaq: GOOG) smartphones, improving Windows smartphones, and strong initial sales trends for the new iPad, we anticipate increasing competition across all of RIM’s products...very low probability the market will support RIM’s new mobile computing ecosystem, we believe RIM will need to sell the company."

FY13 lowered from (0.01) to (2.04), FY14 from (0.21) to (1.20)

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, with a 52 week range of $8.83-$33.54.

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