Research in Motion Downgraded to Hold from Buy at Citigroup

Financial News Network
June 15, 2011 AT 1:01 AM
Citigroup downgraded Research in Motion (NASDAQ:RIMM) ahead of the company's quarterly results on Thursday June 16 and dropped its price target for shares to $45 from $80. The firm believes RIM is not taking advantage of Nokia's (NYSE: NOK) market share loss given its delayed product launches. Research In Motion (NASDAQ:RIMM) has a potential upside of 59.7% based on a current price of $36.73 and an average consensus analyst price target of $58.66.