Sterne Agee Cuts RIM (RIMM) to Neutral as Street Estimates Still Too Lofty

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Shares of Research In Motion (NASDAQ: RIMM) are bouncing Monday morning following notable downside last week. The stock is moving higher despite an earlier downgrade from Sterne Agee's Shaw Wu.

Wu now rates RIM a Neutral, down from Buy previously. The analyst believes the Street's earnings estimates are currently too high, and also warned of continued competition in the smartphone space narrowing margins.

RIM shares last traded at $16.37, up 2.3 percent from Friday's closing price.

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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