UPDATE: Raymond James Lowers PT on Research In Motion

In a company comment published earlier today, Raymond James reiterated its Market Perform rating on Research In Motion Limited

and lowered its price target from $12.00 to $9.00. Raymond James went on to say, “With BB10 now delayed till C1Q13 while the competition refreshes its line-up in 2H12 (new iPhone and high-end Android devices from Samsung), we believe that could set RIMM further back on the specs curve and the possibility of a comeback is rapidly diminishing. The timing delay could also dampen developer interest in the BB10 platform. With that in mind, we believe at this point a sale is likely needed to unlock value.” Research In Motion Limited closed yesterday at $9.13.