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.