The news for RIM only seems to be getting worse these days. Citigroup analyst Jim Suva has cut his rating on shares of Research in Motion from Buy to Hold, and cut his price target to $45 from $80. What a discouraging outlook on the once dominant RIM. Suva previously upgraded RIM in February 2011 from sell to buy, figuring RIM could take advantage of Nokia's dwindling market share. Now Suva says RIM is letting the opportunity slip away.
“Our upgrade of RIMM shares from Sell to Buy in Feb 2011 was based on our view that RIMM, in addition to Apple and Android, would be able to take advantage of Nokia’s market share losses,” writes Suva. “However, we believe RIMM is letting this opportunity slip.”
Suva thinks that RIM's products will be late to market and that will cost them big time. Check out the source link below for an interesting read. It looks like we're seeing the same kind of decline for RIM that Palm went through.
“Our upgrade of RIMM shares from Sell to Buy in Feb 2011 was based on our view that RIMM, in addition to Apple and Android, would be able to take advantage of Nokia’s market share losses,” writes Suva. “However, we believe RIMM is letting this opportunity slip.”
Suva thinks that RIM's products will be late to market and that will cost them big time. Check out the source link below for an interesting read. It looks like we're seeing the same kind of decline for RIM that Palm went through.
