Credit Suisse wins with a Royal Flush on RIM
Kulbinder Garcha........... Credit Suisse.....Sept 26, 2008
Upgraded to NEUTRAL from UNDERPERFORM
Target reduced to $80.00 from $100.00US
RIM.TO Price day before:$101.00Finish day of posting:$72.57 Current:$72.57
RIMM Price day before:$97.53 Finish day of posting:$70.76 Current:$70.76US
-------June 27, 2008-------
New UNDERPERFORM
Target $100.00US (Target Hit Sept 08, 2008)
RIM.TO Price day before:$125.14Finish day of posting:$122.00 Current:$72.57
RIMM Price day before:$123.46 Finish day of posting:$120.98 Current:$70.76US
Research In Motion (TSX /NSDQ RIM/RIMM) Sept 28, 2008
Commentary by Stephen Moore on behalf of Analystcoverage.org
Analyst Kulbinder Garcha of Credit Suisse joined the ratings game of Research In Motion on June 27, 2008. Mr. Garcha could have taken the route of hiding his hand yet decided to be upfront with his Underperform rating although with a target $23.00 lower than the price at the time would not have left much for the imagination. His $100.00US target was achieved within 3 months. Research In Motion tumbled 27% the day after its earnings release while 5 analysts downgraded their ratings and another 4 reduced their targets on the stock. With RIMM 57% lower than its June value Mr. Garcha although lowering his target to $80.00US took the opportunity bucking the trend with the sole upgrade which now stands at Neutral consequently Credit Suisse was the big winner in this round..
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