New York, July 25 (FinanceEnquiry.com) – Analyst James Moorman at S&P CAPITAL IQ upgrades their ratings on Research In Motion (NASDAQ: RIMM) from SELL to HOLD. The 12-month target price is set to $7.50.
In a research note published today, the analyst mentions that FY13 loss per share has been raised from $0.70 to a loss of $1.43, though it has reduced for FY14 from $1.98 to a loss of $1.78.
However, the target price is based on the sum of the parts analysis. The next two quarters have been expected to be very difficult due in part to the Galaxy S III and the launch of the iPhone 5. RIMM has been estimated to start losing subscriptions in August Q. As the stocks have been down by around 52 percent year to date, it has been believed that the share price would be supported by asset value, the analyst says.
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