Despite Strong Q3 Results Research In Motion (RIMM) Gets No Respect

Earlier we noted that Research In Motion Ltd. (Nasdaq: RIMM) was weaker today after UBS placed the stock on their Least Preferred list. Below are more comments on the move from the investment bank.

The firm said the move to add RIMM to its Least Preferred list follows the 20% rally from intra-quarter lows following the strong Q3 results. Analyst Maynard Um said, "Though we anticipated good FY3Q results and guidance, both proved better, helping to alleviate some of the more bearish market concerns. However, given the rally post-earnings we still anticipate headwinds into calendar Q1 with more competitor products and carrier launches at upcoming trade shows and potentially visible competitive pricing pressure.

Netgear (Nasdaq: NTGR) was removed from the Least Preferred list.

Shares of RIMM are down 3% to $67.60, after rallying from $63.46 to $71.60 after Q3 results.

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