UPDATE: Raymond James Removes PT on Research in Motion Following Q4 Results

Raymond James reiterated its Market Perform rating on Research in Motion RIMM and removed its $9 price target. Raymond James noted, "We reiterate our Market Perform rating. Although August was better than anticipated, we believe trends will con tinue to erode with continued losses at least until BB10 launches. … RIM's F2Q13 revenues of $2.9 bln (+2% q/q,-31% y/y) were ahead of consensus of $2.5 bln. Adjusted EPS of -$0.27 was also above consensus of -$0.47. RIM beat on most metrics. … But it's still all about BB10 – and it is still an uphill battle." Research in Motion closed at $7.14 on Thursday.