Citi Maintains 'Hold' Rating on Research In Motion (RIMM), Gives Pros and Cons to New Storm Product
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Citi maintains a 'Hold' rating on Research In Motion (Nasdaq: RIMM). Price target $90.
Citi analyst says, "We personally tested the Storm product. As with all our tests we typically find positives & negatives. For the Storm there were clearly more positives vs negatives. Positives: 1) New touch screen includes physical click confirmation for typing/selections (not haptics); 2) Landscape full QWERTY keyboard with large touch screen buttons; 3) 3G UMTS/HSPA; 4) Ability to copy, cut & paste text; 5) New web browser (same as Bold); 6) 3.2MP camera with video; 7) Great sound & video quality; 8) Built in GPS; 9) Removable battery; 10) Very large carrier support by Vodaphone & Verizon (do not carry iPhone). Negatives: 1) No WiFi (very useful at home & airplanes that have WiFi); 2) No pinch & stretch web browsing features; 3) User interface is not an iPhone killer or as seamless; 4) No set determined launch date."
Research In Motion Limited (RIM) is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
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