Jesup & Lamont Initiates Coverage on Research in Motion (RIMM) with a Buy; Execution Comparatively Less of an Issue
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Jesup & Lamont initiates coverage on Research in Motion (Nasdaq: RIMM) with a Buy rating.
Jesup analyst says, "The definitive thematic trends presiding over RIM’s macro environment have been flogged to death in countless research reports by the 40 or so Wall Street analysts following the company. With this report, our intention is not to rehash what’s been made plainly apparent, but instead call attention to the opportunity we see in the shares’ current valuation versus application consumption, the worldwide proliferation of 3G networks, cash generation, and other attributes of RIM’s operating and financial position...Our valuation multiple incorporates a slowing growth scenario. In according a 16.5x multiple on conservatively computed $4.80 EPS for fiscal 2011, we believe we have fairly accounted for the pessimistic growth scenario in setting our $80 price target. Meanwhile, RIM continues to gain share and generate cash in the fastest growing segment in mobile telephony."
To see more analyst ratings on RIMM Click Here.
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