UBS Cuts Research In Motion (RIMM) Price Target to $50

UBS lowers its price target on Research In Motion (Nasdaq: RIMM) from $71 to $50. The new price target represents a 29.5% reduction from the firm's prior target. UBS maintains a Neutral rating on Research In Motion.

Shares of Research In Motion are currently up in pre-market trading, despite news that Intel (Nasdaq: INTC) cut its Q4 guidance last night after the close. Notably, Research In Motion stock was down nearly 6% yesterday.

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

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