Canaccord Genuity Maintains a 'Hold' on Research In Motion (RIMM); Cutting PT & Estimates on Weak BB7
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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: 10 | Down: 12 | New: 7
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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Canaccord Genuity maintains a 'Hold' on Research In Motion Ltd. (NASDAQ: RIMM) price target cut from $15 to $12.
Analyst, T. Michael Walkley, said, "RIM reported Q4/F2012 sales of $4.2B and pro forma EPS of $0.80, basically in line with our below-consensus estimates of $4.4B and $0.72 once adjusting for the favorable tax rate. Consistent with our checks indicating slowing BB 7 sales, RIM took a $267M inventory provision for BB 7 smartphones and decided to no longer provide guidance. With strong share gains for the iPhone 4S (Nasdaq: AAPL), increasingly price competitive Android (Nadaq: GOOG) smartphones, improving Windows (Nasdaq: MSFT) smartphones, and strong initial sales trends for the new iPad, we anticipate increasing competition across all of RIM’s products."
Walkley cuts his estimates on Research In Motion: FY13 EPS from $2.10 to $1.43; Establishes FY14 EPS at $1.19.
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 $13.73 yesterday.
Analyst, T. Michael Walkley, said, "RIM reported Q4/F2012 sales of $4.2B and pro forma EPS of $0.80, basically in line with our below-consensus estimates of $4.4B and $0.72 once adjusting for the favorable tax rate. Consistent with our checks indicating slowing BB 7 sales, RIM took a $267M inventory provision for BB 7 smartphones and decided to no longer provide guidance. With strong share gains for the iPhone 4S (Nasdaq: AAPL), increasingly price competitive Android (Nadaq: GOOG) smartphones, improving Windows (Nasdaq: MSFT) smartphones, and strong initial sales trends for the new iPad, we anticipate increasing competition across all of RIM’s products."
Walkley cuts his estimates on Research In Motion: FY13 EPS from $2.10 to $1.43; Establishes FY14 EPS at $1.19.
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 $13.73 yesterday.
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