ThinkEquity Says Sell

ThinkEquity analyst Mike Burton, who launched coverage of Research In Motion with a Sell rating and $30 price target. He thinks RIM is a great company, but its margins are going to get squeezed by increasing competition.

Burton expects RIM to earn $3.24 a share in the February 2009 fiscal year, with $2.79 a share in FY 2010, and $3.05 in 2011; he is way below the Street consensus, which sees $3.38 for ‘09, and $3.61 for FY 2010.