Tag: barclays capital

Barclays Capital cuts RIM’s price target


Hmmm… Not good Monday morning news for RIM today. Reuters is reporting that Barclays Capital has cut its price target on RIM from $90 to $60, and global handset sales in 2009 from 3% growth to 5% decline. Barclays also cut its smartphone growth estimate to 25% from 40%.

Barclays analyst Jeff Kvaal cut his estimates on RIM, citing the slowing demand for smartphones, offset partially by the company’s third-quarter phone launches.

“RIM’s four new device launches should partially balance the weak market,” Kvaal wrote in a note to clients.

RIM is trading right now just below the $42 mark, after opening this morning at $39.50.

|via Reuters|