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Old 10-11-2004, 09:35 PM   #1 (permalink)
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Default [2004-10-11] Research In Motion May Grab More Carriers

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Piper Jaffray maintained an "outperform" rating on Research in Motion, saying the wireless-communications company has strong near-term trends and accelerating earnings growth that make it a "compelling investment for growth-oriented investors." The research firm said the company's new 7100 series handheld product is showing signs of strong initial interest and sell through at T-Mobile stores. "Our checks support our thesis that the 7100 series handsets could open new addressable markets for Research in Motion, as well as stimulate further replacement sales within the existing BlackBerry subscriber community," Piper Jaffray said. "In fact, we believe solid initial sell-through at T-Mobile could encourage other carriers to more quickly offer 7100 series handhelds." The research firm raised its 2005 and 2006 earnings-per-share estimates to $1.96 and $2.22, from $1.95 and $2.11, respectively. It raised revenue estimates for 2005 and 2006 to $1.35 billion and $1.90 billion, from $1.34 billion and $1.83 billion, respectively. Piper Jaffray also raised its target price on Research in Motion to $86 from $82.

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