BGC Partners Starts Research In Motion (RIMM) at Sell

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BGC Partners initiates coverage on Research In Motion Limited (Nasdaq: RIMM) today with a Sell rating and $38 price target. The firm is calling the company's BlackBerry "yesterday's phone."

The firm said, "We have respect for RIMM’s historical success, but the company’s core strengths of security, keyboard, compression, and battery life have a diminishing appeal to both consumer and enterprise customers in a brutally competitive and rapidly evolving smart phone market, in our opinion."

You can see a full summary of the report at BusinessInsider.

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