Replies to post #34508 on The Black Box

[Fletch]

SnP took out 1400 this week.........
More upside awaits,
Fletch

[Cortisone]

Research In Motion: Canaccord Raises Estimates, Target; Citi Advises Buying The Stock Before Analyst Meeting
Posted by Eric Savitz
Research In Motion (RIMM) shares are higher today following a pair of bullish analyst notes.

Citigroup’s Jim Suva today advised investors that they should be long the stock heading into the company’s May 12 analyst day and May 13-15 Wireless Enterprise Sympsium. He notes that historically the stock has gained 14% in the 25 days after the company holds its pow-wow with analysts, which it calls Capital Markets Day. Suva does caution that it is not likely the company will introduce new products at the analyst event: “don’t look for a 3G Blackberry, a touchscreen Blackberry or the oft-discussed but never announced 9000 series.” He says the company is likely well along on both 3G and touchscreen Blackberries, though; he expects them both later in the year.

Meanwhile, Canaccord Adams analyst Peter Misek today raised his price target on the company to $190 from $180, and raised his estimates: for the February 2010 fiscal year he now sees revenue of $14.92 billion, up from $14 billion, with EPS of $6.31, up from $5.80. Misek sees a 3G Blackberry in the fiscal second quarter (which ends in August) with five additional SKUs in the next 12 months. The new models, he says, “could re-accelerate RIM’s growth in the back half of the year, just as the the Pearl and the Curve have done in FY ‘07 and FY ‘08, respectively.”

RIMM today is up $3.80, or 3%, to $131.80.