AmTech Says Research In Motion (RIMM) Is A Great Stock For Both Value and Growth Investors

October 13, 2008 11:30 AM EDT

American Technology Research issued positive comments on Research In Motion Ltd. (Nasdaq: RIMM) today, telling growth and value investors alike to Buy the stock now.

Analyst Rob Sanderson noted that due to the dramatic price decline in RIM, value investors can look at the stock for the first time since NTP. He said growth investors can again consider RIMM with potential for multiple-bag return. Sanderson said, "While new product launches have not been as smooth as usual, this is a very near-term hiccup and presents an excellent opportunity. We expect this will be resolved in a few weeks."

Sanderson also noted that RIMM is the lowest multiple of last year's four horsemen of tech, but still the fastest growing. He said the stock is unlikely to drop below 10x consensus, implying downside to about $49.

The firm is reiterating their Buy rating and $115 price target.

Shares of Research In Motion are up 6% today to $58.76.

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