Bloomberg News

Research In Motion Estimate Is Raised at BroadPoint

January 30, 2009

Research In Motion Ltd. (RIM), maker of the BlackBerry smartphone, had its earnings and share-price estimates raised at BroadPoint Amtech on speculation the company will sign up more customers this quarter than it predicted.

The company may sign up as many as 400,000 more subscribers in the current quarter than the 2.9 million it forecast in December, Broadpoint Amtech analyst Rob Sanderson said in an e- mailed note today.

Sanderson raised his full-year per-share earnings forecast by 2.4 percent to $4.25. He kept his “buy” rating on RIM and boosted his share-price target by 37 percent to $85 (C$104.52).

Research In Motion rose 68 cents, or 1 percent, to C$67.78 in 5:25 p.m. Toronto Stock Exchange composite trading. The stock climbed 37 percent in January. The monthly gain was its first monthly gain since August and its steepest since May 2004.

To contact the reporter on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net.

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.


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