Deutsche Bank Cuts Numbers on RIM (RIMM), Sees Bumpy Ride Ahead
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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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Deutsche Bank reiterated their Hold rating and but cut their price target on Research In Motion Ltd. (NASDAQ: RIMM) from $18 to $13, following disappoint Q4 results, no guidance and management changes.
The firm cut FY13 proforma EPS estimates from $3.24 to $2.62.
The firm said it is going to be a bumpy road for the next few quarters. "Thorsten Heins deserves credit for doing what his predecessors could not – being candid about the challenges the company faces. Unfortunately, what is left at the company may not be enough alone to overcome their competitive challenges. It is going to be an uneasy ride for the next few months, as the company drops ASP’s to maintain their subscriber base, focuses on international markets and cuts costs, all while awaiting the release of BB10."
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.
The firm cut FY13 proforma EPS estimates from $3.24 to $2.62.
The firm said it is going to be a bumpy road for the next few quarters. "Thorsten Heins deserves credit for doing what his predecessors could not – being candid about the challenges the company faces. Unfortunately, what is left at the company may not be enough alone to overcome their competitive challenges. It is going to be an uneasy ride for the next few months, as the company drops ASP’s to maintain their subscriber base, focuses on international markets and cuts costs, all while awaiting the release of BB10."
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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