RIM: Could Be Worse, Could Be Raining | John Paczkowski | Digital Daily | AllThingsD

Another RIM reality check

It says a lot about Research In Motion’s current situation that the company’s shares can rise on an analyst upgrade to market perform announced in a note entitled, “RIMM: Things Can’t Get Worse in the Foreseeable Future.”

But after a near 40 percent decline in share price since the beginning of the year, RIM and it’s investors are taking anything they can get–even a disdainful, back-handed upgrade from Bernstein & Co.’s Pierre Ferragu, a longtime RIM pessimist with a particularly bleak view of the company.

RIM: Could Be Worse, Could Be Raining | John Paczkowski | Digital Daily | AllThingsD