RIM (RIMM) Shares Lower as Barclays Cuts to Equalweight

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Barclays' Jeff Kvaal downgraded shares of Research In Motion Ltd. (NASDAQ: RIMM) from Overweight to Equalweight Tuesday morning. The analyst reduced his price target from $40 to $23.

RIM shares are down about 1.3 percent in pre-market action. With the stock last trading around $18.73, Barclays' new price target still represents potential upside of about 23 percent.

Shares of RIM have tumbled nearly 37 percent since mid-September.

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.

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