Needham Cuts Research In Motion (RIMM) to Hold
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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: 0 | Down: 0 | New: 0
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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An analyst at Needham & Company downgraded shares of Research In Motion Ltd. (NASDAQ: RIMM) in a mid-day research note Wednesday.
The firm now rates RIM shares a Hold, down from Buy previously. Needham also suspended its $90 price target on the stock.
Needham believes the BlackBerry maker will be unable to respond appropriately to users which constantly demand an ever-increasing selection of software and services. The firm called RIM's software development "inept."
Needham reduced its FY11 EPS estimate from $7.35 to $6.00. The Street is currently expecting RIM to report FY11 EPS of $6.61.
Shares of RIM are down about 1.4 percent to $47.58 in afternoon trade.
For more ratings news on Research In Motion Ltd. click here and for the rating history of Research In Motion Ltd. click here.
The firm now rates RIM shares a Hold, down from Buy previously. Needham also suspended its $90 price target on the stock.
Needham believes the BlackBerry maker will be unable to respond appropriately to users which constantly demand an ever-increasing selection of software and services. The firm called RIM's software development "inept."
Needham reduced its FY11 EPS estimate from $7.35 to $6.00. The Street is currently expecting RIM to report FY11 EPS of $6.61.
Shares of RIM are down about 1.4 percent to $47.58 in afternoon trade.
For more ratings news on Research In Motion Ltd. click here and for the rating history of Research In Motion Ltd. click here.
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