Friday December 21, 06:34 PM
Research in Motion "market outperform," target price raised - update
NEW YORK, December 21 (newratings.com) - Analysts at JMP Securities maintain their "market outperform" rating on Research in Motion Ltd (ticker: RIMM), while raising their estimates for the company. The target price has been raised from $110 to
$130.
In a research note published this morning, the analysts mention that the company has reported its F3Q08 EPS ahead of the consensus and the estimates, while guiding to better-than-expected figures for the February quarter. Research in Motion's growth prospects will continue to be driven by robust demand for its new products and its strong international business and leadership position in smart phones, the analysts believe. The EPS estimates for FY08 and FY09 have been raised from $2.18 to $2.24 and from $3.15 to $3.40, respectively.
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