S&P Capital IQ Maintains its HOLD Rating on Research in Motion

October 13 00:00 2011

NEWYORK, October 13 (RainbowNewsLine.com) – Analyst James Moorman of S&P Capital IQ reiterates his HOLD rating on the shares of Research in Motion (NASDAQ: RIMM).Target price is unchanged at $27. The target price is set to $27.

Analyst James Moorman, in a research note published yesterday, mentions that according to an unconfirmed WSJ article, RIMM is experiencing disruption in their networks, which is gradually spreading across North America. In the analyst’s view, it will have a short-term negative impact on the company because major competitors are about to launch their new high profile smart phones. In spite of competition from other smartphone launches, the new BB7 smartphones is expected to boost RIMM’s smartphone volumes in the near term, the analyst adds.