Home » gadgets » stock » Research In Motion RIM Profit View Raised At Barclays

Tuesday, December 7, 2010

Research In Motion RIM Profit View Raised At Barclays

Research In Motion RIM Profit View Raised At Barclays ; Barclays Capital increased its third quarter and full-year profit estimates for Research In Motion (RIMM) (RIM.TO), citing strong demand for the company's latest Smartphone - BlackBerry Torch , "Our checks indicate international demand remains strong and that North American Torch demand is solid," analyst Jeff Kvaal wrote in a note to clients.

Kvaal raised his third-quarter profit forecast to $1.65 a share from $1.62 a share, a penny ahead of the Street, and RIM's forecast of $1.62 to $1.70 a share.Kvaal also upped his third-quarter revenue forecast to $5.421 billion from $5.397 billion, which is higher than the Wall Street estimate of $5.38 billion and in line with company estimate of $5.30 billion to $5.55 billion

The analyst also raised his fiscal 2011 EPS estimate to $6.05 a share from $5.90 a share and revenue view to $19.762 billion from $19.666 billion. Wall Street expects RIM to earn $6.05 a share on revenue of $19.67 billion, according to analysts polled by Thomson Reuters.

Kvaal, who has an "overweight" rating and $85 price target on RIM stock, increased his third- quarter unit estimates to 14.1 million units from 13.9 million units. RIM is expecting shipments of 13.8 million to 14.4 million units.

"Our checks suggest that AT&T's promotion of the Torch at $100 has been well received heading into and over the Black Friday weekend. We believe the Torch remains the #2 seller at the carrier, after the iPhone. The promotion remains active, we expect likely through the rest of the holiday season," the analyst wrote.

Shares of Waterloo, Ontario-based RIM closed Monday's regular trading session at $63.33 on Nasdaq. On the Toronto Stock Exchange, they ended Monday's trading at C$63.85.
 For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post:

gadgets
stock
Posted by at
Labels: ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)