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Sterne Agee Comments On RIMM's Disappointing August Quarter

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Sterne Agee has published a research report on Research In Motion (NASDAQ: RIMM) after the company reported disappointing August quarter results.

In the report, Sterne Agee writes, "There have been concerns that the company is losing customers but its installed base continues to grow (now at 70 million globally). In terms of gross margin, its guidance of 37% may mark an inflection point where it stops declining and then its U.S. business (27% of revenue), which has been a major source of pain, stops declining as a percentage of revenue."

Sterne Agee maintains its Buy rating and $35 price target on Research In Motion, which closed yesterday at $29.54.

Posted-In: Sterne Agee & LeachReiteration Analyst Ratings

 

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