Tag: Citi

Nokia and Microsoft Merger Could Benefit RIM Through Carrier Promotions

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Nokia and Microsoft

Citi analyst Jim Suva has turned 180 on RIM’s stock due to the recent news between Nokia and Microsoft. With Nokia adopting the WIndows Phone 7 OS, carriers are seeing Nokia (a sell rated stock) as unstable with an unrealized product strategy. Suva thinks that this will push the carriers to promote other devices such as BlackBerry, Android and Apple.
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Citi Investment analyst advises you keep buying RIM stock

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Analysts are saying that RIM’s shares will come under pressure as new devices are being launched by the competition. The Palm Pre, Android and iPhone updates are going to force RIM to feel some competitive heat, but in general, investors aren’t worried.

“We expect RIM shares to face trickier waters over the next few weeks,” Citi Investment Research analyst Jim Suva wrote in a note to clients this week.

He advised clients to remain buyers of the stock with a $100 target price.

“Near-term events aside, we think RIM is on right side of changing handset industry dynamics,” he wrote.

RIM shares were 1.3 percent higher at $83.21 on Nasdaq. In Toronto, they inched 20 Canadian cents higher to C$89.76.

[Via]

Research in Motion (RIM) financial analysis update

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The Financial Post Trading Desk is reporting that RIM’s first-quarter revenue is estimated to come down to US$3.1-billion on seven million new units shipped.

Raymond James & Associates is giving an Outperform rating on RIM stock with a target price of US$66.

Citi analyst Jim Suva, however, has a Hold on the stock with a target price of US$46. Mr. Suva remains skeptical in the near term, estimating earnings-per-share growth of just 7% this year, which is “hard to get excited over.”

Hopefully upcoming device launches such as the Niagara will quell any market uncertainty.

[Via]