UBS Sees RIM (RIMM) Pardy Departure as Continuation of Struggles

March 7, 2011 3:33 PM EST
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While Jefferies noted earlier on Monday that the departure of Chief Marketing Officer Keith Pardy as creating a buying opportunity to buy for shares of Research in Motion (NASDAQ: RIMM), UBS sees the move as a continuation of the company's troubles in morphing itself in the changing mobile landscape.

UBS analyst says, the departure of Pardy "likely dampens sentiment further and perhaps reinforces RIMM’s struggles transforming itself from an enterprise-centric company to one much more focused on selling consumer products with a brand cachet that could rival Apple (NASDAQ: AAPL).”

UBS maintains a Neutral rating and $61 price target on RIM.

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