Friday, November 30, 2007

Piper Jaffray lowers RIMM price target

Analysts. Love 'em or hate 'em, they have clout.

Piper Jaffray Sees Research in Motion (RIMM) Going To $134

Piper Jaffray lowered its price target on Research in Motion (Nasdaq: RIMM) from $137 to $134, but maintains a Neutral rating. As Piper Jaffray expects a seasonally slower February quarter, the firm also lowered Research in Motion's FY08 EPS estimates from $2.21 to $2.13 and FY09 estimates from $4.57 to $4.46.

There's more. Competition picking up. But overall, it's the lowered target price that triggered the selloff this morning. And to think that I stayed out of some swing trade, small-cap ideas to stick with my "safe" RIMM. Looks like I'll see 115 before I see 120 soon.

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