Research in Motion Hits TROUBLED TIMES and 2 Wall St. Equity Insights
Ford Motor Co. (NYSE:F) has been removed from Citigroup’s Top Picks Live list due to worsening conditions in Europe following the company’s Q2 earnings expectations’ lowered guidance because of issues outside of North America. Because Ford’s long-term thesis is still in tact, the firm maintains a Buy rating but lowers its price target to $14 from $15 on the stock.
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Research In Motion Limited (NASDAQ:RIMM) price target was cut to $5 by Jefferies following the company’s weak Q1 results as well as a delay in the BB10 launch. The firm still thinks that RIM will not be acquired before the BB10 launch causing it to give the stock an Underperform rating. Citigroup also cut RIM’s price target to $5. Barclay’s lowered RIM’s target from $8 to $6. According to William Blair RIM’s BlackBarry 10 will be “too little, too late, since the launch was delayed until 2013’s Q1. The firm states that it cannot remember a situations in mobile handset history where a company could recover from strategic error and market loss at this leve. William Blair describes RIM as having “one foot in the grave” following the Q1 results and maintains its Market Perform rating on the shares.
Eaton Corporation (NYSE:ETN) estimates were lowered by Longbow due to market weakness overseas and currency impact. Shares have a Buy rating.
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