Sterne Agee analyst Shaw Wu, an assessment of the weight of the shares of Research In Motion Ltd. on Monday, saying that the manufacturer of BlackBerry smartphones is facing increased competition, which is likely to put pressure on its profit margins.
Wu downgraded shares of RIM from "neutral" to "Buy" and suspended his price target, which was previously $ 31. He said the company is facing pressure on margins due to the "highly competitive" prices of its competitors like HTC, Amazon.com Inc., Apple Inc. and Samsung failures extended network society in early Meanwhile in October, "will likely put pressure on services and software margins as a carrier and enterprise customers receive concessions and reductions in demand," said Wu.
Wu said that in retrospect he would have downgraded RIM in October when the stock was trading at $ 24. On Friday, closed from $ 16
The shares rose 49 cents, or 3.1 percent, to $ 16.49 in late afternoon trading Monday amid a broader market rally
The analyst adds that RIM still has "intrinsic value" and as he did not downgrade "the least". The company could be subject to acquisition for its patent portfolio with 70 million subscribers, and other supplies, said Wu.
Wu downgraded shares of RIM from "neutral" to "Buy" and suspended his price target, which was previously $ 31. He said the company is facing pressure on margins due to the "highly competitive" prices of its competitors like HTC, Amazon.com Inc., Apple Inc. and Samsung failures extended network society in early Meanwhile in October, "will likely put pressure on services and software margins as a carrier and enterprise customers receive concessions and reductions in demand," said Wu.
Wu said that in retrospect he would have downgraded RIM in October when the stock was trading at $ 24. On Friday, closed from $ 16
The shares rose 49 cents, or 3.1 percent, to $ 16.49 in late afternoon trading Monday amid a broader market rally
The analyst adds that RIM still has "intrinsic value" and as he did not downgrade "the least". The company could be subject to acquisition for its patent portfolio with 70 million subscribers, and other supplies, said Wu.
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