Analysts Show Concern Ahead of RIM's (RIMM) Q4 Report

Shares of Research In Motion (Nasdaq: RIMM) are moving about 2 percent higher Tuesday morning despite some bearish comments from several analysts earlier. The stock last traded at $13.38.

ThinkEquity's Mark McKechnie lowered his price target on RIM shares from $18 to $12 while maintaining a Hold rating.

Ahead of RIM's fourth-quarter results on Thursday, March 29th, Bernstein's Pierre Ferragu believes BlackBerry shipments and sales will be below the low end of the company's guidance. The analyst cited hardware concerns. Ferragu is modeling for quarterly shipments of about 11 million units and sales of $4.3 billion. The analyst sees first-quarter shipments of 10.3 million on sales of $3.8 billion. Subscriber net additions will be about 2.5 million, according to the Bernstein analyst.

Ferragu maintains a Market Perform rating and $16 price target.

The Street is currently expecting fourth-quarter earnings of 82 cents per share on sales of $4.57 billion.

Track all the market-moving analyst action on RIM shares with our Analyst Ratings page.

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