Citi Maintains a 'Buy' on Research In Motion (RIMM); Best Investment for New Money
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Citi maintains a 'Buy' on Research In Motion (Nasdaq: RIMM). Price target $100 and names stock a 'Top Pick'.
Citi analyst says, "RIMM hosted its annual investor day and Wireless Enterprise Symposium in Orlando, FL May 4-6...Key Focus Items — 1) Gross margins decline during the past 9 months appears to be resolved. 2) BES 5.0 to drive enhanced email functionally such as access to networks directories, hardware virtualization (lowers TCO). 3) Unified Communications (one phone number & voice mail always reachable office/home/travel no matter where you are) 4) App World; 5) Low Channel Inventory...What was Left Out — Verizon’s (NYSE: VZ) Buy One Get One (BOGO) free promotion has been extended beyond its planned end this past weekend due to the success of this promotion which is a positive for RIMM. Subsidies continue to go to smart phones & away from feature phones & supportive of our industry thesis that Smart Becomes Average as mainstream users now adopt smart phones vs high end niche segment previously...Derivative Implications — RIMMs unit growth is good for contract manufacturers Celestica (NYSE: CLS), Jabil (NYSE: JBL) and Flextronics (Nasdaq: FLEX) as well as distributor Brighpoint (Nasdaq: CELL)."
To see more analyst ratings on RIMM Click Here.
Research In Motion Limited (RIM) is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
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