Wedbush Cuts RIM (RIMM) to Neutral Amid 'Decent But Not Great Torch Launch'
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Price: $14.64 +12.36%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Wedbush has downgraded shares of Research In Motion (Nasdaq: RIMM) from Outperform to Neutral this morning. The firm also reduced its price target on the BlackBerry-maker from $65 to $57.
The firm calls the Torch launch "decent," but does "not see it slowing the oncoming rush of Apple and Google long term..." Wedbush believes that shares of Research In Motion will be "largely range bound." The firm adds that international remains an opportunity.
With shares of Research In Motion down more than 1.2% to $50.18 in the pre-market session, the firm's new price target implies potential upside of about 14%.
Track all the market-moving upgrades/downgrades on RIM shares with our Analyst Ratings page.
Research In Motion Limited (RIM) is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
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The firm calls the Torch launch "decent," but does "not see it slowing the oncoming rush of Apple and Google long term..." Wedbush believes that shares of Research In Motion will be "largely range bound." The firm adds that international remains an opportunity.
With shares of Research In Motion down more than 1.2% to $50.18 in the pre-market session, the firm's new price target implies potential upside of about 14%.
Track all the market-moving upgrades/downgrades on RIM shares with our Analyst Ratings page.
Research In Motion Limited (RIM) is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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