Morgan Stanley Downgrades Research In Motion Ltd. (RIMM) to Underweight, Sees 29% Downside
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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: 18 | New: 13
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade RIMM Now!
Morgan Stanley downgraded Research In Motion Ltd. (NASDAQ: RIMM) from Equalweight to Underweight with a price target of $7.00, suggesting 29 percent downside.
The firm said the company's book value is not yet at a floor and the long-term value of the company is well below the current stock price. They also said they expect fundamentals to rapidly deteriorate over the next 9 months and BB10 is too little too late.
Morgan Stanley slashed FY14 revenue estimates from $9.7 billion to $7 billion, which compares to the consensus of $12.2 billion.
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 $9.86 yesterday, with a 52 week range of $9.57-$33.54.
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The firm said the company's book value is not yet at a floor and the long-term value of the company is well below the current stock price. They also said they expect fundamentals to rapidly deteriorate over the next 9 months and BB10 is too little too late.
Morgan Stanley slashed FY14 revenue estimates from $9.7 billion to $7 billion, which compares to the consensus of $12.2 billion.
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 $9.86 yesterday, with a 52 week range of $9.57-$33.54.
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