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$RIMM currently up in pre-market trading due to upgrade by Peter Misek


As of 8:45 am EST, RIM is up almost 7% to US$15.96 in pre-market trading after noted RIM critic and Jefferies analyst Peter Misek upgraded the stock to buy from hold and raised his price target to US$19.50 from US$13.00.  Yes…. THAT Peter Misek.

Mr. Misek had a few notes to support this upgrade including

  • He says RIM will enable corporate BlackBerry email on iPhones and Android devices.
  • RIM will indeed bring BBM to android and iOS
  • RIM will add “bring your own device sandboxing” to other platforms
  • He believes the probability for success is at the high end of his “20-30%” range he has previously stuck to
  • If all goes well, he thinks the stock could climb to $56 in the next 12 months
  • He believes Q1 2014 and Q2 2014 will come in well above consensus due to the increase in average revenue per unit sold of BB10 devies.  Meaning, RIM will make more money off every BB10 sale than current BB7 sales
  • He notes also that developers are supporting BB10 way more than expected

Now none of the above is really shocking, and, for many of us, we have known that things like developer interest has been strong for a while now.  The thing to take away from this is basically this, one of the most harshest critics of RIM and BlackBerry is now turning bullish about their prospects.

Its about time right?  Should be interesting to see what happens to the stock today when the market opens!

7 total comments on this postSubmit your comment!
  1. “He says RIM will enable corporate BlackBerry email on iPhones and Android devices”.??? Is this in regards to Mobile Fusion?

    “RIM will indeed bring BBM to android and iOS”, even though RIM has denied it so far??

    • It is what he thinks. None of it may come true. Some may come true. Who knows. Misek doesn’t even know. If he puts out 10 recommendations he probably hopes 5-6 come true. That way he looks like he generally knows what he is talking about

  2. I’m very surprised at his “so called” predictions, especially about BBM coming to other platforms. RIM got to do what it got to do to survive, but I’m not feeling happy about mixing the platforms seem desperate… My $0.02!

  3. lol you guys are far behind if you havent heard about the expansion of BBM 😉

    • Expansion of BBM within BB10 has been well documented and that is NOT what Misek is talking about

      Expansion of BBM to android/iOS is still an urban legend of sorts. Sure. There are likely side projects at RIM to develop BBM for iOS and android, but, whether RIM decides to pull the trigger on that is a WHOLE other story

  4. My 300 shares are moving on up. Whoot!

  5. I think RIMM should offer a watered down verion to other platforms to give them a taste of what their missing. RIMM is on the comeback trail!

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