The analyst behind the downgrade is Tim Long.
According to TipRanks since 2009 he had 29% success rate (olny 5 out of 17 recommendations of his actually outperformed the market). also an average Buy/Sell recommendation of returned -9% under the S&P500.
So Basically i am not sure he is the guy i would follow.
Tim Long has to make a call...he is paid to do so. No fault to him even though many might disagree with him. The transparency issue is with Savitz He ONLY reports Bearish views on RIMM. Forbes doesn't insist on balanced reporting? Is it Savitz's or Forbes' crusade against RIMM ? And why? Tim Long has a right to make a call to many bad ones and he gets canned. Did anyone other than Savitz report on BMO release?? Did I make my point?
It is still early in the day. These tech bloggers/tech analysts tend to sponge off of others. It will likely be more widely reported as the day goes on.
Nevertheless, I find it interesting that you are crying bias that Forbes would report a downgrade by a huge organization like BMO. One could argue that there is a conspiracy to suppress negativity by the fact that such a huge organization has downgraded and it isn't widely publicized yet.
Later in the day, longs will cry foul if it is widely reported.
24/7 conspiracies against RIM is the order of the day. Regardless of events.
Analysts have no clue. Just look at NOK: Pacific crest said in December 2012 after their so called "channel checks" that only 1 million WP 8 devices will be sold in the 4 Q 2012. Turned out that over 2 million is a more realistic number.
These analysts do not have the resources to check the channels. these are purely done by paid clients. No firm is going to give money to these guys to go around the world to do the channel checks. Their calls are good for a 1 nano second