Research In Motion (RIMM) Sells-Off On Bearish Research Report
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After rising for three straight sessions, shares Research In Motion Ltd. (Nasdaq: RIMM) are seeing a 5% pullback today related to a cautious research report from ThinkEquity.
ThinkEquity initiated coverage on the Blackberry smartphone maker with a Sell rating and $30 today. The bearish price target suggests downside of 28% from yesterday's close.
The firm thinks margins at RIM will continue to be squeezed due to competitive pressures and the need to invest higher amounts to expand.
The firm also said due to the high level of corporate layoff, RIM will have trouble growing in this environment.
ThinkEquity initiated coverage on the Blackberry smartphone maker with a Sell rating and $30 today. The bearish price target suggests downside of 28% from yesterday's close.
The firm thinks margins at RIM will continue to be squeezed due to competitive pressures and the need to invest higher amounts to expand.
The firm also said due to the high level of corporate layoff, RIM will have trouble growing in this environment.
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