Research in Motion's BlackBerry Sales Strong

Sales of Research In Motion Ltd.’s (RIMM) BlackBerry Curve were strong at AT&T stores over this past weekend, while Verizon (VZ) also saw healthy sales after the recent launch of the CDMA Pearl. However, BlackBerry sales at Sprint (S) were weak due to the lack of new devices at the U.S. wireless service provider’s stores.

Those are the findings of a recent Canaccord Adams survey of 30 consumer electronics stores. Following U.S. Thanksgiving this past Thursday, Black Friday kicked off the busy weekend traditionally considerd the start of holiday shopping season.

More than 95% of the respondents told Canaccord they believe BlackBerry sales have risen year-over-year. Meanwhile, just over half of the respondents think overall handset sales improved compared to a year ago, while 73% said smartphone sales have improved.

Analyst Peter Misek thinks RIM is on track for BlackBerry shipments of more than 4 million, and net subscriber additions of 1.7 million for the quarter. This is above his own estimates and the consensus at 3.7 million and 1.7 million, respectively.

He continues to rate RIM shares a “buy” with a $160 price target. The stock closed at $111.54 on Monday, so Canaccord’s price target implies upside of 43%.

Comments

[Tom B]

Probably an excellent time to sell, while you have a chance.

[reagan]

What an idiot.....

[bert]

What most people don't properly conceive is that RIMM is entering a new market (consumer) in new geographical areas. This is a double projection of exponential growth. VIP and MBT are both adding RIMM products the potential growth is geometrically, exponential. And right now the PEG is just 1.26 based on the current quarters earnings. If the market goes down over the next few days RIMM could be an even better opportunity.

[Hayweed]

And now they are cutting estimates a week later. This is laughable.

See Barrons.

blogs.barrons.com/tech.../