RIM (RIMM) August Qtr Will Be "Dire" - Jefferies
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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: 8 | Down: 5 | New: 26
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies reiterated their Underperform rating and $12 price target on Research In Motion Ltd. (NASDAQ: RIMM) following mixed Q4 results, management changes, and no quantitative guidance.
The firm comments, "FQ4 (Feb) handset shipments achieved the low end of guidance but ASP and net adds were light. We expect trends to get worse from here and think the Aug Q will be dire. Management changes continue, and mgmt has reconsidered its stance on licensing. We still see risk to Street estimates (FY13 JEF $1.87; St $2.86) and maintain our $12 target and our Underperform rating."
The firm cut Q1 EPS from $0.57 to $0.53.
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 comments, "FQ4 (Feb) handset shipments achieved the low end of guidance but ASP and net adds were light. We expect trends to get worse from here and think the Aug Q will be dire. Management changes continue, and mgmt has reconsidered its stance on licensing. We still see risk to Street estimates (FY13 JEF $1.87; St $2.86) and maintain our $12 target and our Underperform rating."
The firm cut Q1 EPS from $0.57 to $0.53.
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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