Monday, March 5, 2012

Stock Alert - RIMM (RIMM) downgrades to "sell" from "speculative buy" - 3/5/12

RIM (RIMM) -4.8% to $13.14, probably on more analyst criticism. Northern Securities' Sameet Kanade slashes his target to $7 from $24 and downgrades RIM to "sell" from "speculative buy." Kanade forecasts that RIM's service revenues will plummet to $2/sub by Feb 2013 from $5. Northern Securities isn't without interest, though.

RIMM (RIMM)  is trading at $13.14.Resistance level is $15 and support at $12.45

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