Jefferies & Company Reiterates Hold Rating, $13 PT on Research In Motion Limited
In a report published Friday, Jefferies & Company reiterated its Hold rating and $13.00 price target on Research In Motion Limited (NASDAQ: RIMM).
Jefferies noted, “Despite a solid quarter, the stock is trading down due to the introduction of a lower enterprise service tier and fears that RIM will not receive monthly services revenues for consumer BB10 subscribers. Our recent checks indicate that the carriers have agreed to volume commitments for the first two quarters post-launch and that build plans have been raised. We think RIM may have traded one for the other. We maintain our Hold.”
Research In Motion Limited closed on Thursday at $14.12.
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