RIMM Added to Goldman "Convicton Buy" List

Published on November 19, 2008
by Eric Savitz

Goldman Sachs this morning added Research In Motion (RIMM) to the firm’s Conviction Buy list, replacing Cisco Systems (CSCO), which still remains Buy rated. The company also removed Riverbed (RVBD) from its Conviction Sell list, while maintaining its Sell rating.

“For RIMM, we want to take advantage of the stock’s very compelling valuation and upcoming catalysts, including to Storm launch and fiscal Q3 (November) earnings,” writes analyst Simona Jankowski. She notes that RIMM shares are down 62 percent over the last three months, compared with 51 percent for the average stock she covers and 32 percent for the S&P 500, on concerns of slowing demand and margin pressure as a result of competitive offerings from Apple (AAPL) and others.

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