The target share price on Research in Motion (RIMM) the guys behind the BlackBerry Device have been reduced from $80 to $72 by Raymond James.

The RIMM share price on Friday closed at $42.47, but traded lower 2.3 percent lower to $41.50 in pre-market trading.

Research in Motion have been taking a battering lately and the share prices starting falling back in September when analysts first cut the target price on the stock. Unfortunately the news of the BlackBerry Storm the long awaited touchscreen smartphoneand the BlackBerry Bold 9000 did little to lift the phone giants stocks back up, in less than 3 months the RIMM stocks has lost around 65 percent in value from over $120 to under $50.

Source: streetinsider