Research in Motion Ltd. (NASDAQ: RIMM) was first seen with a target price cut at Credit Suisse to $20 from $30 this morning. The real “taking the cake” downgrade came from JMP Securities where it cut the rating to Market Underperform from Market Perform. The price target objective is now only $12.00 and that is going to kill any of those “upgrades based on valuation” from last week. RIM shares are down 3.3% at $17.60 with more than thirty minutes until the market opens.
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