Analyst Sees 'Bigger' BlackBerry Push Into China (RIMM, CHA)
More News related to CHA
- Bernstein Starts China Mobile (CHL) at Outperform, China Telecom (CHA) at Market Perform, China Unicom (CHU) at Underperform
- China Telecom (CHA) volatility at 40-month lows
- Macquarie Upgrades China Telecom (CHA) to Outperform
- Halter USX China Index Up 61.75% for 2009
- Last Day to Vote for the Best IR Program and Best IR Officer
More News related to RIMM
- Article Stirs Up Microsoft-for-Research in Motion Takeover Chatter (MSFT, RIMM)
- Barron's Article Makes Comments on Motorola (MOT); Shares Could Rise 40% If Cellphone Division Spun-Off
- Piper Says Checks Indicating Strong Jan. Sales at Research In Motion (RIMM)
- First Global Downgrades Motorola (MOT) to Market Perform; Uncertain Consumer Spending, Intense Competition
- Credit Suisse Adds Research In Motion Ltd. (RIMM) to its Focus List
More News related to Analyst Comments
- Morgan Stanley Says Buy Commodities on Recent Dip
- JPMorgan Close to Upgrading UAL, AMR, US Airways; Raises Estimates on UAL Following Traffic Results (UAUA, AMR, LCC, more)
- S&P Revises Credit Outlooks On BofA (BAC) and Citi (C) to Negative, Saying No More Free Govenment Handouts
- S&P Revises Outlook on Citigroup (C) from Stable to Negative
- Wedbush Maintains an 'Outperform' on Electronic Arts (ERTS); Lowers PT & Estimates
Kaufman Brothers put out a research note on Research In Motion (Nasdaq: RIMM) earlier, noting that recent checks have suggested that a "bigger" BlackBerry push in China may be coming. The firm currently has shares of Research In Motion rated at Buy with an $87 price target.
The firm believes that China Telecom (NYSE: CHA) will be the likely front-runner for this push into China, but Kaufman said "exact timing is unclear". Still, the same checks have indicated that 3G models could already be in beta testing and near the final stages of localizing the software. Kaufman believes China Telecom would fit Research In Motion well as, despite being the smallest handset carrier in China, it is the fastest growing player and has a solid government and enterprise customer base.
Kaufman points out that while Research In Motion has previously been reluctant to enter the massive Chinese market (due to the assumption that the company would need to modify its software as BlackBerries are "too secure" for Chinese authorities), news that China is upgrading to 3G networks and Apple's recent entry into the market has now made it impossible for Research In Motion to ignore the world's largest wireless market (700 million mobile subscribers).
With RIM shares up 2% to $75.37 today, the Kaufman price target represents potential upside of about 15% from current levels.
Related Categories
Analyst CommentsTrader Talk
Stocks Mentioned
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
