Canaccord Adams Said iPhone Updates Unlikely To Affect RIM (RIMM)

March 7, 2008 11:18 AM EST
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Canaccord Adams comments on Research In Motion (Nasdaq: RIMM) related to yesterday's news from Apple (Nasdaq: AAPL) of new enterprise features for the iPhone. The firm said this is unlikely to affect RIM.

Analyst Peter Misek said, "We believe the drop in RIM shares yesterday was undeserved and would be using any further Apple-related weakness as a buying opportunity. Apple becomes the latest in a long line of competitive threats that have attempted to topple RIM’s dominance in the enterprise. Microsoft, with Windows Mobile/ActiveSync, Nokia with Intellisync, and Motorola with Good Technology have all fared poorly in the enterprise. We have no reason to expect otherwise from Apple."

The firm maintains their Buy rating and $150 price target. [LJ]

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