Canaccord Genuity Maintains a 'Hold' on Research In Motion Ltd. (RIMM); Channel Checks Indicate...

Canaccord Genuity maintains a 'Hold' on Research In Motion Ltd. (NASDAQ: RIMM) price target of $8.00.

Analyst, T. Michael Walkley, said, "Our August checks indicated continued weak global sell-through trends for BlackBerry 7 smartphones. With our expectations for an LTE iPhone 5 (Nasdaq: AAPL) to launch this month combined with several competitors launching LTE Android (Nasdaq: GOOG) and Windows (Nasdaq: MSFT) smartphones for the holiday selling season, we maintain our bearish view on RIM fundamentals. While we believe RIM is on track to launch BB10 smartphones in Q1/C2013, we maintain our HOLD rating and below-consensus estimates."

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 $6.69 yesterday.

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