RIM heats up as BlackBerry 10 launch nears

BlackBerry Z10

Research In Motion (RIMM) shares are soaring ahead of the imminent launch of the firm?s next-generation BlackBerry 10 platform. The stock?s recent run could come screeching to a halt at any moment as short interest grows, but?Jefferies & Company analyst Peter Misek thinks there?s plenty more good news ahead for RIM. In a note to investors on Friday morning, Misek told clients to buy RIM stock and set a new 12-month price target of $19.50, up from his previous $13 target with a Hold rating.

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?Our checks indicate that the carriers have agreed to volume commitments for the first two quarters post-launch,? Misek wrote. He also notes that ?BB10 builds have been raised from 500K/month in early Dec to 1M-2M/month,? and ?Developers are supporting BB10 more than we expected. RIM is targeting 70K BB10 apps available at launch.?

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Misek says that RIM?s next-generation platform will enable secure corporate email services on iOS and Android devices and the market has overlooked this major change so far. The analyst believes RIM?s March- and August-quarter results will beat Wall Street?s current consensus now that RIM?s huge installed base will finally have a ?legitimate upgrade opportunity.?

This article was originally published on BGR.com

Source: http://news.yahoo.com/rim-heats-blackberry-10-launch-nears-150513054.html

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