RIM downgraded because of Bold delays
Deutsche Bank has downgraded Research In Motion, shortly after RIM's co-CEO announced that AT&T Mobility was still testing the much-anticipated and long-delayed BlackBerry Bold, a move that puts more pressure on the handset maker to deliver the device soon.
Deutsche Bank lowered its price target on RIM from $70 to $50, primarily on worries that RIM would keep pushing back the launch of the Bold, and miss its quarterly targets. Co-CEO Mike Lazaridis said this past week that AT&T was still testing the device on its 3G HSPA network to make sure it worked properly on the network.
The downgrade comes as RIM is trying to get both the Bold and the Blackberry Storm, which is being launched by Verizon Wireless, on the market before the holiday shopping season begins.