Most Analysts Call Amazon or Microsoft Bid for RIM 'Unlikely' (RIMM) (AMZN) (MSFT)

Although Research In Motion (Nasdaq: RIMM) investors are getting some relief Wednesday amid rumors of buyout interest from Amazon (Nasdaq: AMZN) and others, the Street's analysts, for the most part (the stock was upgraded at two firms), do not seem so optimistic. The stock is currently up 11 percent to $13.85. Shares of Amazon.com are down 3.7 percent to $175.70.

• JPMorgan - The firm argues Amazon may have shown interest in the summer mainly as an avenue to develop its patent portfolio in order to defend its Kindle Fire from lawsuits similar Android-device makers have already faced. Amazon may have also been looking to takeover RIM's QNX operating system, a move which would make the integration of Amazon's digital products on BlackBerries very easy. Bottomline, JPMorgan calls an acquisition "unlikely" over the near term.
  
  
• Nomura - Believes the news should be encouraging to RIM holders, however does not see a strategic buyer stepping in til the stock price is below $10. The firm values RIM at around $15 per share in a "gradual wind-down scenario..." but is expecting "further pressure on RIM’s share price." Nomura was confused with the reasoning behind Amazon's interest.
  
  
• BMO - Simply calls an acquisition of RIM "unlikely." The firm feels the company's business model is the largest challenge, followed by management. BMO is unsure if RIM execs want to sell the company.
  
  
• Natixis - A bid from Microsoft/Nokia (Nasdaq: MSFT) (NYSE: NOK) (also rumored to be involved in the earlier talks) will not happen over the near term as merging two operating systems would be extremely complicated and limit possible synergies. In addition, Microsoft's already-strong corporate client base makes a RIM bid even less likely.
  
  
• Baird - Similar to Natixis, the firm said blending RIM's OS with Windows Phone 7 would be "messy at best." While Baird sees a stand-alone bid for RIM by Microsoft possible, a move into hardware would directly conflict with its Windows Phone 7 launch.

Analysts at Jefferies and ThinkEquity upgraded RIM shares to Hold and Buy, respectively. While the Jefferies upgrade was more of a "no-longer-Sell-rated" call, ThinkEquity's Mark McKechnie more or less pounded the table for upside. McKechnie notes RIM's stock price during the summer ranged from $21.60 to $42.50, suggesting Amazon was interested even at sharply higher prices. The analyst believes an eventual bidder could pay at least $25 per share, or about $13 billion.

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