Raymond James Cuts Price Target on RIM (RIMM) to $57

Raymond James lowers its price target on Research In Motion (Nasdaq: RIMM) from $64 to $57. The firm maintains its Outperform rating on Research In Motion.

Shares of RIM are currently 7.8% higher, most recently trading at $41.47. The stock is seeing upside today on the back of in-line Q3 earnings and better-than-expected Q4 guidance.

Wall Street analysts remain mixed on Research In Motion; some consider it still over-priced while others believe it has been unfairly beaten up considering its growth potential. Earlier, an analyst at Cowen & Co. downgraded the stock from Neutral to Underperform, citing "more questions than answers about the company's Q4 outlook."

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

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