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UPDATE: Credit Suisse Downgrades Research In Motion to Underperform on Challenging Transition


Credit Suisse downgraded Research in Motion Limited (NASDAQ: RIMM) from Neutral to Underperform and lowered the price target from $11.00 to $10.00.

Credit Suisse noted, "Despite recent enthusiasm for RIM's new BB10 devices, we see limited scope for traction in the hypercompetitive smartphone market. Furthermore, we believe that RIM's major business model change in services will result a significant decline this high margin revenue stream, driving operating losses and potential cash burn."

Research In Motion closed at $13.78 on Wednesday.

Latest Ratings for RIMM

Jan 2013Evercore PartnersDowngradesEqual-WeightUnderweight
Jan 2013Credit SuisseDowngradesNeutralUnderperform
Jan 2013RBC CapitalMaintainsSector Perform

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Posted-In: Credit SuisseAnalyst Color Downgrades Analyst Ratings

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