ThinkEquity cuts its price target on Research In Motion (RIMM +0.8%) to $12 from $18, citing its...

|By:, SA News Editor

ThinkEquity cuts its price target on Research In Motion (RIMM +0.8%) to $12 from $18, citing its survey of IT buying patterns that says 70% of IT managers plan to replace their BlackBerry Enterprise Server, the software the forwards messages to BlackBerries, out of service within the next two years.