Research In Motion Limited (RIMM) Added To US Focus List
February 05, 2010 9:55 AM
Credit Suisse’s (ADR) (NYSE: CS) Investment Policy Committee has added Research In Motion Limited (NASDAQ: RIMM) to the US focus list, according to its tech daily report released yesterday.
Analyst Kulbinder Garcha at Credit Suisse has an Outperform rating for the company, with a 12-month price target of $95. According to Credit Suisse, the company has a compelling multi-year growth opportunity with under-appreciated volume and market share potential in the smart phone market.
In the longer term, Credit Suisse expects the company to benefit from the strong growth in the smart phone market. Research In Motion’s 21% market share is sustainable, according to Credit Suisse.
The company is expected to beat expectations over the next few quarters. The company has $5 in net cash per share. The company is expected to generate free cash flow of $1.7 billion in FY10. Credit Suisse estimates EPS of $4.37 in FY10 at Research In Motion Limited.
