1. robtanz's Avatar
    Why CIBC thinks its a good time to buy RIM shares

    Michael Babad
    11:41 EST Monday, Apr 01, 2013

    These are stories Report on Business is following Monday, April 1, 2013.

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    CIBC keen on RIM
    CIBC World Markets today hiked its price target on shares of Research In Motion Ltd. to $20 (U.S.) from $17 in the wake of the BlackBerry maker's surprise fourth-quarter profit last week.

    "Now is a good time to buy," said analyst Todd Coupland, citing the fact that the company shipped 1 million of its new BlackBerry 10 devices in the quarter, more than half to non-BlackBerry users.

    Those touch-screen devices, among 6 million shipped in total in a global launch that did not include the U.S. market, were BB Z10 models. Next up is the keyboard version, the BB Q10, which launches this month and is now being tested by more than 40 wireless carriers in 20 countries, Mr. Coupland noted.

    Mr. Coupland expects first-quarter shipments of 6.8 million devices, some 2.75 million of them the new BB10s and 4 million of the older devices.

    Estimates for the 2014 fiscal year will move higher based on the staggered rollouts, he added in his research note, titled "Right sized and ready for earnings leverage."

    Last week, RIM posted a turnaround profit of $98-million or 19 cents a share, compared to a loss a year earlier of $125-million or 24 cents. Revenue of $2.7-billion was down a hefty 36 per cent from a year earlier, while the company, which is changing its name to BlackBerry, also lost 3 million users from its subscriber base.
    04-01-13 10:47 AM
  2. BBjer's Avatar
    And yet.. they have not released a banking app. Still waiting.

    Oil sands Fueled
    04-02-13 04:46 PM
  3. world traveler and former ceo's Avatar
    many analysts starting to come out very positively on Blackberry .. its going to be a very good year this year for Blackberry!
    04-03-13 08:10 AM

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