RIM has been receiving some good news from analysts lately. We have seen numerous investors and analysts change their ratings on RIM from “neutral” or “sell” to “buy”, all in anticipation of the launch of BlackBerry 10 in 2013. The latest firm to change their rating for RIM is Goldman Sachs, who have changed their rating to “buy” for RIM, and have increased their target price from $9 to $16.
While Goldman Sachs’ change has definitely helped RIM and their market price, there is still quite a bit of pessimism from analysts as to whether or not BlackBerry 10 will be the saving grace for RIM.
To be sure, not everyone has jumped on the bandwagon. Wedge Partners analyst Brian Blair warned on Wednesday that rising expectations for the BB10 in 2013 have provided false hope for investors.
“We believe the run-up in the stock miscalculates the reality of consumer demand for BB10 next year. … The fact is, the smartphone market has changed in the last 24 months, and RIM is not only late to the party, the party has moved to a different location and RIM is showing up at the wrong house,” Blair said.
Luckily we are quickly approaching the announcement of BlackBerry 10 on January 30th, and hopefully the direction RIM has chosen for BlackBerry for the foreseeable future will pay off.