UPDATE: Wedbush Remains Neutral, Lowers PT on Research In Motion

In a report released earlier today, Wedbush Securities Inc. reiterated its Neutral rating for Research In Motion Limited RIM, while lowering the target price $14.50 to $13.50. Wedbush's report went on to say, “We continue to be cautious on RIM as we believe the company's integrated strategy continues to greatly lag Apple's. While Apple is moving forward with iCloud and other connected devices, RIM continues to focus on its OS and device upgrades in smartphones and tablets. In our opinion, a material partnership in the consumer segment or a separation of platform from devices will be key to unlock value, which we are unsure RIM will do.” Research In Motion Limited closed yesterday at $13.73.