RBC Cuts Price Target on RIM (RIMM) to $45

RBC Capital lowers its price target on Research In Motion (Nasdaq: RIMM) from $65 to $45, but maintains a Sector Perform rating.

After trading down more than 8% last night in after-hours action, shares of Research In Motion opened today's session down about 5% but about an hour after the open, the stock had moved into positive territory as value investors jumped in. RIM's stock price is currently around $37, down about 0.75% from yesterday's close.

RBC's new price target on Research In Motion represents potential upside of about 21% from current levels.

Research In Motion Limited engages in the design, manufacture, and marketing of wireless solutions for the mobile communications market worldwide.

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