It just might be time to buy some stock again. I’m not recommending, but if you do and it pays out well, I’ll expect a cut. I digress. News from the Financial Post has Research In Motion’s stock (RIMM) finally setting up the ladder and getting ready for another climb – a 20% climb. The blame can be put on the 8800 for this little boost, let’s hope the good times keep rolling.
While analyst Robert Dennison expects strong demand from customers replacing their mobile devices, the new full-size Pearl 8800, which has already begun shipping, could help drive earnings above the high end of RIMâ€™s guidance, he said in a research note.
He has a â€œbuyâ€ recommendation and US$170 price target on the stock.
â€œWe believe the bulk of the growth from RIMâ€™s competitors will materialize in the consumer/prosumer market, which we see as a much bigger addressable market and one in which RIM does not have to be dominant to also see â€˜explosiveâ€™ growth,â€ he said.
The stock’s been hovering around the $130-$135 mark for a while now, so this is some exciting news. Let’s hope that once the rest of the world is aware of the 8800, we’ll start seeing the little stock that could chug back up.