Posted by: Stephen Wildstrom on August 18, 2009
I get a lot of analysts reports and except for the work of a few folks whose judgment and reporting skills I value, toss most of them unread. But for some reason, I actually looked at a report today by RBC Capital Markets analyst Mike Abramsky and was stunned by its obviousness and ability to predict the recent past.
His main conclusion: “We believe smartphones represent the next wave of computing,leading to mobile experiences both consumer and business users crave.” He notes that “iconic smartphones are difficult to make, distribute, sell, and support” and predicts that Apple, Research In Motion, and Palm will win market share at the expense of traditional handset makers such as Motorola, Nokia, Sony Ericsson, and LG.
For what it’s worth, RBC is raising its price targets for RIMM ($70.72) from $100 to $150, for AAPL ($159.59) from $190 to $250, and for PALM ($13.23) from $18 to $25.