Research In Motion (RIMM) shares are soaring ahead of the imminent launch of the firm’s next-generation BlackBerry 10 platform. The stock’s recent run could come screeching to a halt at any moment as short interest grows, but Jefferies & Company analyst Peter Misek thinks there’s plenty more good news ahead for RIM. In a note to investors on Friday morning, Misek told clients to buy RIM stock and set a new 12-month price target of $ 19.50, up from his previous $ 13 target with a Hold rating.
[More from BGR: Samsung’s latest monster smartphone will reportedly have a 5.8-inch screen]
“Our checks indicate that the carriers have agreed to volume commitments for the first two quarters post-launch,” Misek wrote. He also notes that “BB10 builds have been raised from 500K/month in early Dec to 1M-2M/month,” and “Developers are supporting BB10 more than we expected. RIM is targeting 70K BB10 apps available at launch.”
[More from BGR: Cable companies called ‘monopolies that stifle competition and innovation’]
Misek says that RIM’s next-generation platform will enable secure corporate email services on iOS and Android devices and the market has overlooked this major change so far. The analyst believes RIM’s March- and August-quarter results will beat Wall Street’s current consensus now that RIM’s huge installed base will finally have a “legitimate upgrade opportunity.”
This article was originally published on BGR.com
Wireless News Headlines – Yahoo! News
Title Post: RIM heats up as BlackBerry 10 launch nears
Url Post: http://www.news.fluser.com/rim-heats-up-as-blackberry-10-launch-nears/
Link To Post : RIM heats up as BlackBerry 10 launch nears
Rating:
100%
based on 99998 ratings.
5 user reviews.
Author:
Thanks for visiting the blog, If any criticism and suggestions please leave a comment
RIM heats up as BlackBerry 10 launch nears
This article
RIM heats up as BlackBerry 10 launch nears
can be opened in url
http://newspristidae.blogspot.com/2013/01/rim-heats-up-as-blackberry-10-launch.html
RIM heats up as BlackBerry 10 launch nears
