Barclays predicts strong international sales for RIM
The word is Barclays Equity research has issued a company update to clients on shares of BlackBerry smartphone maker Research In Motion discussing Research In Motion’s further visibility on strong international sales and “acceptable” BlackBerry Storm 2 launch reports trading markets.
Apparently Barclays has stated that their checks indicated a very healthy BlackBerry 8520 and 8900 demand in Latin America, Western Europe and Southeast Asia with modest cannibalisation, and that strong 8520’s do carry a mix/ASP risk.
Analyst Jeff Kyaal for Barclays has said they believe shares as roughly 12x consensus anticipate a miss while a 15x multiple would require fiscal year 2011 EPS of about $4.00 and they said that “appears conservative.
Kyaal continued with saying very negative sentiment may yield solid or very strong F3Q results. Barclays maintained their overweight rating and target price for Research In Motion at $90.00.