Needham Cuts Research In Motion (RIMM) to Hold
Tweet Send to a Friend
Get 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: 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!
An analyst at Needham & Company downgraded shares of Research In Motion Ltd. (NASDAQ: RIMM) in a mid-day research note Wednesday.
The firm now rates RIM shares a Hold, down from Buy previously. Needham also suspended its $90 price target on the stock.
Needham believes the BlackBerry maker will be unable to respond appropriately to users which constantly demand an ever-increasing selection of software and services. The firm called RIM's software development "inept."
Needham reduced its FY11 EPS estimate from $7.35 to $6.00. The Street is currently expecting RIM to report FY11 EPS of $6.61.
Shares of RIM are down about 1.4 percent to $47.58 in afternoon trade.
For more ratings news on Research In Motion Ltd. click here and for the rating history of Research In Motion Ltd. click here.
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
The firm now rates RIM shares a Hold, down from Buy previously. Needham also suspended its $90 price target on the stock.
Needham believes the BlackBerry maker will be unable to respond appropriately to users which constantly demand an ever-increasing selection of software and services. The firm called RIM's software development "inept."
Needham reduced its FY11 EPS estimate from $7.35 to $6.00. The Street is currently expecting RIM to report FY11 EPS of $6.61.
Shares of RIM are down about 1.4 percent to $47.58 in afternoon trade.
For more ratings news on Research In Motion Ltd. click here and for the rating history of Research In Motion Ltd. click here.
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: MKM Partners Downgrades Alkermes (ALKS) to Sell
- Standpoint Research Downgrades Procter & Gamble (PG) to Sell
- BMO Capital Downgrades Nordson (NDSN) to Market Perform
Create E-mail Alert Related Categories
DowngradesRelated Entities
Needham & Company
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!
