UPDATE: Barclays Downgrades Research In Motion Ltd. (RIMM) to Underweight; Jumping on the 'Lost Hope' Bandwagon

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(Updated - July 3, 2012 12:14 PM EDT)

Barclays downgraded Research In Motion Ltd. (NASDAQ: RIMM) from Equalweight to Underweight with a price target of $6.00.

Analyst, Jeff Kvaal, feels that continued strong competition will put pressure on RIMM's earnings. He sees a trading floor or takeover valuation becoming more and more risky. Kvaal is standing by his newer estimates for FY13 loss of 1.98 and FY14 loss of 1.04.

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 $7.49 yesterday, with a 52 week range of $7.14-$33.54.

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