Needham & Company Maintains a 'Hold' on Research In Motion (RIMM); Fiscal 2013 - Yet Another Transition Year

Needham & Company maintains a 'Hold' on Research In Motion Ltd. (NASDAQ: RIMM).

Needham analyst says, "RIM reported results in line with recent guidance. The bad news is the launch of the next-generation BlackBerry 10 devices running on the QNX operating system has been pushed back to late fiscal 2013. BlackBerry 7 devices must carry the day until then. We’re maintaining our hold recommendation but cutting our fiscal 2012 estimate from $4.20 to $3.35 and our 2013 estimate from $4.00 to $3.00."

"RIM is an absurdly cheap stock if management’s assessments are anywhere close to reality. The risk is they’re not. That’s why we’re maintaining our hold rating despite a compelling valuation."

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.

Shares of Research In Motion Ltd. closed at $15.13 yesterday.

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