Analysts put ‘sell’ rating on RIM stock

“Shares in Research In Motion are overpriced and the BlackBerry maker’s new operating system likely won’t return the company to profitability, says an analyst who has put a ‘sell’ rating on the stock,” The Canadian Press wrote, published by the Montreal Gazette online yesterday. The online article continued, “Canaccord Genuity analyst Michael Walkley has set RIM’s share price at US$10 — substantially lower than estimated share prices issued by other analysts in recent weeks. Shares in Research In Motion (TSX:RIM) were down 10 cents to $11.49 after the report by Cannacord Genuity was issued. While the BlackBerry 10 operating system is more competitive with Apple’s iPhone and Android smartphones, there will be limited consumer demand, analyst Michael Walkley said Monday. ‘Our checks do not indicate the consumer pull, carrier push, or developer excitement necessary for BlackBerry 10 to reverse the challenging trends faced by RIM in order to return the company to sustained profitability,’ Walkley wrote in a research note.” Read the full article here. | Raymond Matt, CFP, CLU, TEP, CHS

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