Dundee Bullish on Research in Motion (RIMM)
Think Research in Motion (NASDAQ:RIMM) shares could gain back 46% in the next 12 months? It would appear the only Wall Street analyst that believes that could happen is Dushan Batrovic at Dundee Capital Markets.
Research In Motion Ltd (RIMM) shares have traded between $42.53 and $88.08 over the past 12 months. RIM's shares are now trading with a P/E Ratio of 9.8 and EPS of 4.56. Mr. Batrovic has maintained his Buy rating and $65 price target, which is a 45.9% increase from today's price of $44.55.
RIM pessimism overdone
(business.financialpost.com) Research in Motion Ltd.’s (RIMM) competitive positioning in the smartphone market is diminished due to the ascent of Apple Inc.’s iPhone and Google Inc.’s Android, but the sell off in Research in Motion Ltd. shares that seems to be based on a comparison to Nokia and Motorola. two other smartphone makers on the ropes recently, is unjustified, according to Dushan Batrovic, an analyst at Dundee Capital Markets.
“Yes, RIM is losing market share but investors selling the stock today are pricing in a collapse akin to Nokia/Motorola,” he said in a note to clients. “Yet, RIM’s fundamentals are vastly superior to Nokia/Motorola’s at the time of their 50% retracement levels.”