Jefferies Downgrades Research In Motion Ltd. (RIMM) to Underperform

Jefferies downgraded Research In Motion Ltd. (NASDAQ: RIMM) from Hold to Underperform with a price target of $25, with shares up 45% in the last month.

The firm states, "Our checks and Quarterly Handset Survey indicate: 1) New BB OS 7 phone sell-in okay, but sell-through is lackluster; 2) Weak sell-through of older models; 3) Patents/subs reflected in valuation; 4) QNX handsets are being rushed; 5) New low-cost iPhone and low-end Android phones pressuring RIM in mid-range and low-end, respectively."

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 $31.31 yesterday.

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