A UBS analyst has cut back his expectations for RIM’s performance a due a “lack [of] conviction” that RIM can stop its bleeding.
Philip Huang lowered the stock’s target price and slashed his earning estimates for the company for the next two years.
RIM is launching a new roster of smartphones running OS 7 this year, and then a QNX-based next-gen operating system in 2012. But the company has fallen further and further behind competitors thanks to delays and mediocre new products and software, critics claim.
Philip pointed out that the fiercely aggressive mobile space is fast-moving, but RIM won’t be able to trigger a “meaningful transition” until next year, which could prove devastating.