Deutsche Bank Cuts PT and Estimates on Research In Motion (RIMM); Tough Quarter, Tougher Future
Tweet Send to a FriendGet Alerts RIMM Hot Sheet
Price: $14.64 +12.36%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Trade RIMM Now!
Deutsche Bank maintains a 'Hold' on Research In Motion Ltd. (NASDAQ: RIMM) price target of $8.00 (from $13.00).
Analyst, Brian Modoff, said, "RIM announced Q1 revenues of $2.8b, below our estimate of $3.9b and consensus $3.1 b. Pro-forma EPS was ($0.37), slightly above our estimate of ($0.39) but well below consensus ($0.05). The company shipped 7.8m units in the quarter. Given the number of problems at the company, placed against the chance that BB10 is a success, or the increasingly unlikely scenario that the company is seen as a buyout candidate, we maintain our rating, but lower PT."
FY13 EPS estimate cut from (0.61) to (2.36).
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Brian Modoff, said, "RIM announced Q1 revenues of $2.8b, below our estimate of $3.9b and consensus $3.1 b. Pro-forma EPS was ($0.37), slightly above our estimate of ($0.39) but well below consensus ($0.05). The company shipped 7.8m units in the quarter. Given the number of problems at the company, placed against the chance that BB10 is a success, or the increasingly unlikely scenario that the company is seen as a buyout candidate, we maintain our rating, but lower PT."
FY13 EPS estimate cut from (0.61) to (2.36).
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
- UBS Raises PT on Tesoro (TSO)
- UPDATE: Cantor Fitzgerald Upgrades Cubist Pharmaceuticals (CBST) to Hold
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Deutsche Bank
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
