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BlackBerry Stocks To Soar

By Kevin Hill on 26 Feb 2007 04:19 pm EST
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RIM Ramping up BlackBerry Production Research in Motion, the makers of our favorite little device the BlackBerry, is set to outperform its rivals in the stock market according to RBC Capital Markets financial analysts. We’d like to think this is tied to the launch of CrackBerry.com but we suspect it might have something to do with RIM’s plans for extensive product rollouts over the next year.

According to a story on the Bloomberg financial wire, RIM will begin an “unprecedented product cycle” that will drive RIM stocks skyward and up 29 percent. That assessment according to RBC analysts Mike Abramsky and Paul Treiber.

This month, RIM launched the 8800 and there are plans for a sustained roll out of products that incorporate elements from both its business-oriented devices and its more consumer-friendly devices such as the Pearl. Depending on how RIM handle their “consumer strategy,” the two Toronto-based analysts suggest that stocks could go from $140 a share to $180. This despite earlier fears that Apple’s entrance into the market would have a negative impact on BlackBerry’s consumer sales.

As Abransky is quoted as saying “Strap on your seatbelts.” Of 33 analysts cited in the Bloomberg story 17 are positive on RIM, 13 non committal and 2 negative. RIM will supposedly bring out eight new handhelds in the next 24 months, including variations on the 8800, newer versions of the Pearl, a striped-down entry-level BlackBerry and, allegedly, a device designed to squarely take on the iPhone.

Read the full story here.

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BlackBerry Stocks To Soar

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