Close

JMP Cuts RIMM (RIMM) to Underperform, Sets Street-Low Price Target of $12

November 21, 2011 7:48 AM EST
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: 11 | New: 11
Join SI Premium – FREE
Shares of Research In Motion Ltd. (NASDAQ: RIMM) are continuing lower this week following a downgrade from JMP Securities' Alex Guana.

After falling nearly 3 percent on Thursday of last week, and another 2.5 percent on Friday, the stock is currently indicated to open Monday's session down about 2.7 percent.

Guana now rates RIM shares a Market Underperform, down from Market Perform previously. The analyst set a new $12 price target. This is now the Street-low price target on shares of Research In Motion.

The analyst believes BlackBerry's pace of innovation is beginning to lag and insists better-priced smartphones are becoming "increasingly threatening."

With RIM shares last trading at $17.70, Guana's new price target suggests potential downside of about 32 percent.

For an analyst ratings summary and ratings history on Research In Motion Ltd. click here. For more ratings news on Research In Motion Ltd. click here.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Downgrades, Hot Downgrades

Related Entities

JMP Securities