ThinkEquity Cuts RIM (RIMM) to Hold

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ThinkEquity's Mark McKechnie downgraded shares of Research In Motion Ltd. (NASDAQ: RIMM) following news the company's Co-CEO's Mike Lazaridis and Jim Balsillie will step down.

The analyst now rates RIM shares a Hold, down from Buy previously. The analyst boosted his price target on the stock from $16 to $18.

After trading up more than 4 percent following the news, RIM shares have just opened down more than 4.5 percent to around $16.22.

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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