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

October 14 00:00 2011

NEW YORK, October 14 (RainbowNewsLine.com) – Analyst James Moorman of S&P Capital IQ reiterates his HOLD rating on the shares of Research in Motion (NASDAQ: RIMM). The 12-month target price is set to $27.

Analyst James Moorman, in a research note published yesterday mentions that the company has declared that its services are back on track. The reason for its network failure is yet to be known and the company has not decided for compensation for the outage in services. Given the launch of iPhone 4S, the timing for network disruption is unfortunate, the analyst says. The analyst believes more postpaid contracts can limit the shortcomings and dissolve the negative sentiments on the company.