Goldman Sachs cut its rating on the stock to “neutral” from “buy,” citing doubts about the company’s ability to maintain market share in North America.
“‘In addition, a second consecutive decline in international sales tempers our expectations for share gains overseas,’ Goldman analyst Simona Jankowski wrote in a note to clients,” Rocha and John McCrank report. “Brokerage firm Raymond James also cut its rating on RIM to ‘market perform’ from ‘outperform.’
“Phillip Huang, an analyst at UBS, maintained a ‘neutral’ rating on RIM, saying its shares will likely be range-bound until the company can show stronger top line momentum,” Rocha and John McCrank report. “He added that ‘sentiment could be muted near-term due to increasing competition & a potential relationship between Apple and Verizon Wireless.'”
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