Nomura Securities Maintains a 'Neutral' on Research In Motion (RIMM); Lowers Numbers

Nomura Securities maintains a 'Neutral' on Research In Motion Ltd. (NASDAQ: RIMM), PT lowered from $65 to $53.

Nomura analyst, Stuart Jeffrey, says, "Nomura analyst says, "After RIM’s cut to guidance on Thursday last week, BlackBerry World this week provided few incremental data points to help drive earnings estimates. We believe that it may take RIM until Q1 or Q2 calendar 2012 to prove its ability to drive QNX consumer applications. In the meantime, risks to the next few quarters remain material. So while valuation appears undemanding, until we see scope for market share declines to stabilize or reverse we retain our Neutral rating. 2012/23 Our EPS ests decrease to $6.61/$6.98 from $6.85/$7.31."

For 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 $48.24 yesterday.

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