Friday December 21, 06:18 PM
Research in Motion "buy," target price raised
NEW YORK, December 21 (newratings.com) - Analysts at UBS (Virt-X: UBSN.VX - news) maintain their "buy" rating on Research in Motion Limited
(ticker: RIMM), while raising their estimates for the company. The target price has been raised from $150 to $155.
In a research note published this morning, the analysts mention that the company has posted its F3Q revenues and pro-forma EPS in-line with the estimates. Research in Motion's net adds were marginally ahead of and gross margins in-line with the estimates, the analysts say. The company has issued its revenue and pro-forma EPS guidance for F4Q at $1.8-$1.87 billion and $0.66-$0.70, respectively, ahead of expectations. The visibility into the company's orders in F4Q08 is high, UBS adds. The EPS estimates for FY08 and FY09 have been raised from $2.16 to $2.24 and from $3.01 to $3.30, respectively.
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