J.P. Morgan Reiterates Not Rated Status on Research In Motion Limited
In a report published Wednesday, J.P. Morgan & Co. reiterated its Not Rated status on Research In Motion Limited (NASDAQ: RIMM).
J.P. Morgan noted, “We are adjusting our model to reflect the now official further delay in BB10 shipments. Heading into earnings this week we believe RIM may have more to say on services deals which could push the stock higher in the short term. However, we continue to believe that gaining traction in the smartphone market vs. Apple and Android will be difficult. We expect ship in numbers for BB10 devices to be OK in FQ4 but believe the reality will be weak end-market demand.”
Research In Motion Limited closed on Tuesday at $13.72.
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