Click to Skip Ad
Closing in...
  1. AirPods 2 Price
    11:46 Deals

    Amazon’s AirPods 2 price is the lowest it’s been all year, but not for much lo…

  2. Best Car Detailing Products
    14:14 Deals

    The best car detailing product is a $5.59 tool on Amazon that pros don’t want you to…

  3. Best Robot Vacuum Deals
    13:00 Deals

    Amazon’s best Roomba vacuum deal is the Roomba 675 for $199

  4. Furrion Outdoor TV Deals Reviews
    10:32 Deals

    These Furrion outdoor TV deals are crazy, and up to $400 off today at Amazon

  5. Wireless CarPlay Adapter
    08:41 Deals

    Finally! CarlinKit 2.0 on Amazon converts your car’s regular CarPlay to wireless Car…

RIM isn’t dead yet: Analyst sees light at the end of the tunnel

Dan Graziano
November 20th, 2012 at 2:14 PM
RIM BlackBerry 10 Analyst Optimistic

While some analysts see Research in Motion (RIMM) as dead in the water, others have reevaluated the company and now feel more optimistic than ever before. Onetime RIM critic Peter Misek of Jefferies & Co has now increased his price target on shares of RIM to $10 from $5 and changed his rating on the stock from “underperform” to a “hold.” The analyst changed his opinion of the struggling company following a positive reaction from wireless providers regarding BlackBerry 10

“Preliminary results from our quarterly handset survey indicate developed market carriers have a much more positive view of BB10 than we expected,” he said in a note to investors on Tuesday, according to Reuters. Misek now believes that BlackBerry 10 has a “20 percent to 30 percent probability of success” due to “greater carrier shelf space and marketing support.”

The analyst said that while RIM’s success is not guaranteed, if its BlackBerry 10 gamble pays off, and the operating system is licensed to other manufacturers, the stock could potentially be worth as much as $43 per share within the next 12 months. Shares of RIM reacted positively to Misek’s statements, increasing to double digits for the first time in five months before settling to a price just below $10 per share.

Misek’s beliefs aren’t shared by others, however. Pacific Crest analyst James Faucette on Monday reiterated his “underperform” rating on shares of RIM,  noting that the company’s trajectory will not change regardless of the quality of BlackBerry 10.

Popular News