With the expected launch of the Palm Pre and the expected unveiling of a new iPhone at WWDC 2009, Research IN Motion is facing some stiff competition in the mobile arena this summer reports nationalpost.

However, according to Jim Suva, and analyst for Citigroup, the BlackBerry maker is more than up for the challenge, and has thus maintained his “buy” rating on stock along with his $100 price target.

Suva also stated that aside from the near term challenges, RIM’s present market share and challenges at Sony Ericsson and Motorola allow plenty of space to grow as customers continue to embrace smartphones.