Research In Motion (RIMM) Downgraded to Hold at Wunderlich

Research In Motion (RIMM) has been downgraded today by the research analysts at investment firm Wunderlich which lowered RIMM from a “buy” rating to “hold.”  Wunderlich also lowered their price target for RIMM from $76 to $46 dollars.  RIMM is down during intraday trading.

Research In Motion is slated to release their next earnings report on June 16th after the market session and is estimated to post EPS of $1.33 dollars.  Their last earnings report was released on March 24th, 2011 and announced a EPS of $1.78 with revenue totaling 5.556 billion which was up 36.2 % year to year.  RIMM is currently trading below its 50 & 200-day moving averages and 2011 is a down year for the company.

Research In Motion is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.  The company provides platforms and solutions for seamless access to information, including email, voice, instant messaging, short message service (SMS), Internet and intranet-based applications and browsing.  The company has market capitalization of $22,640,000,000 and 519,273,000 shares outstanding.  RIMM has a 52-week high of $70.54 with the low being $42.53 dollars.



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