Nomura Securities Maintains a 'Neutral' on Research In Motion (RIMM); CEO Departures
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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
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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Nomura Securities maintains a 'Neutral' on Research In Motion (NASDAQ: RIMM) price target of $15.00.
Analyst, Stuart Jeffrey, said, "RIM announced last night that Mike Lazaridis and Jim Balsillie would both be stepping down from their positions as co-CEO and co-Chairman. RIM’s COO, Thorsten Heins, has been appointed the new CEO. The company has reiterated a continuation of its current strategy. In our view, this seems to offer scope for improvement in one of just two ways: 1) Mr. Heins turns out to be a much better manager, 2) Lazaridis and Balsillie removes a potential barrier to acquisition of RIM by a third party. We remain of the view that an acquisition of RIM by a strategic buyer is unlikely. For private equity investors, we retain our view that fair value for RIM in a cash optimization mode is likely around $15 per share and that a private equity buyer is thus unlikely to bid much above $10 per share."
For an analyst ratings summary and ratings history on Research In Motion click here. For more ratings news on Research In Motion click here.
Shares of Research In Motion closed at $17.00 yesterday.
Analyst, Stuart Jeffrey, said, "RIM announced last night that Mike Lazaridis and Jim Balsillie would both be stepping down from their positions as co-CEO and co-Chairman. RIM’s COO, Thorsten Heins, has been appointed the new CEO. The company has reiterated a continuation of its current strategy. In our view, this seems to offer scope for improvement in one of just two ways: 1) Mr. Heins turns out to be a much better manager, 2) Lazaridis and Balsillie removes a potential barrier to acquisition of RIM by a third party. We remain of the view that an acquisition of RIM by a strategic buyer is unlikely. For private equity investors, we retain our view that fair value for RIM in a cash optimization mode is likely around $15 per share and that a private equity buyer is thus unlikely to bid much above $10 per share."
For an analyst ratings summary and ratings history on Research In Motion click here. For more ratings news on Research In Motion click here.
Shares of Research In Motion closed at $17.00 yesterday.
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