S&P MAINTAINS SELL OPINION ON SHARES OF RESEARCH IN MOTION
2 days 14 hours 13 minutes ago - SNPMarketScope
We maintain our 12-month target price of $12, based on sum-of-the-parts analysis. We conducted channel checks at 24 stores in 14 states, including 16 Verizon and 8 Best Buy stores in 14 states. Our checks showed light foot traffic at the stores for the device, but a slightly more enthusiastic and knowledgeable sales experience. However the Best Buy experience was still underwhelming in terms of demand and promotion. We believe existing Blackberry subscribers in the U.S. are waiting for the Q10 launch, resulting in light demand for the Z10.