Bear Sterns Lowers Price Target For RIMM

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Bear Stearns has lowered their price target on RIMM from $68 – $75 to $75 – $83. The investment firm cited increasing competition in the near future from major vendors in push email technology and hardware devices. Companies such as Microsoft, Nokia, Siemens, and Motorola were said to pose the bigges threat. For 2005, 2006 and 2007, Bear Stearns estimates earnings per share on Research in Motion of $2.05, $2.80 and $3.00, respectively.