RIM: Canaccord Upgrades as Storm Rolls In
Research In Motion (RIMM) this morning announced that its new touchscreen BlackBerry, the Storm, will start shipping to Verizon (VZ) and Vodafone (VOD) later this fall. The device will be priced in line with the Apple (AAPL) iPhone at $199, and will match Apple’s 8GB of storage capacity.
Canaccord Adamas analyst Peter Misek responded to the news by upping his rating on the stock to Buy from Hold. Misek wrote that “the unveiling of RIM’s highly anticipated touchscreen handset should provide some much needed relief to the investor base.” He says the Storm news should boost Street confidence in estimates for the fiscal third quarter ending in November and the fourth quarter ending in February.
Other analysts also weighed in on the importance of the Storm.
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