Needham & Company Maintains a 'Hold' on Research In Motion (RIMM); Q2 Miss Is Less Than It Seems

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September 16, 2011 11:20 AM EDT
Get Alerts RIMM Hot Sheet
Price: $14.64 +12.36%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Research In Motion Ltd. (NASDAQ: RIMM).

Needham analyst says, "RIM missed its revised second quarter guidance on both the top and bottom lines. But the misses were less than they seemed because of a significant drawdown of BlackBerry channel inventory. We’re maintaining our hold rating, cutting our GAAP fiscal 2012 estimate from $4.35 to $4.20, but raising our 2013 estimate from $3.35 to $4.00 on the prospect of higher Blackberry sales than we previously forecast."

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 $29.54 yesterday.

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