Nomura Securities Maintains a 'Neutral' on Research In Motion (RIMM); Raising Estimates

Nomura Securities maintains a 'Neutral' on Research In Motion Ltd. (NASDAQ: RIMM).

Nomura analyst, Stuart Jeffrey, said, "Following revisions to our smartphone and tablet market forecasts, we adjust our ests for RIM. We raise our EPS ests by 2% for FY12 and 4% for FY13 to US$6.85 and 7.31, respectively, with our FY12 estimate 9% below mgmt guidance, likely due to a more cautious view on RIM’s smartphone and tablet prospects this year. In the note, our market share analysis by region and price point highlights risks; we highlight that a 60% share of the North American midrange smartphone market is likely unsustainable. Margin outlook may improve but tablet estimates still below consensus. Our Neutral rating is retained despite the company’s low valuation multiples over concerns that new software platform releases fail to stem RIM’s market share declines."

For or more ratings news on Research In Motion Ltd. click here and for the rating history of Research In Motion Ltd. click here.

Shares of Research In Motion Ltd. closed at $56.54 yesterday.

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