Standpoint Research Upgrades Research In Motion (RIMM)

Shares of high flying Blackberry maker, Research in Motion (NASDAQ: RIMM), have come back down to earth after hitting a high of $88.08 last year. RIMM is currently trading at $64.02 on the Nasdaq exchange. At this price, the stock is trading at a P/E of around 16. According to Ronnie Moas at Standpoint Research, this name is poised to go higher from here. According to Standpoint, concerns over increased competition in the smartphone space from Google (NASDAQ: GOOG), Apple (NASDAQ: AAPL) and others is already priced into the stock.

Standpoint believes that the market may be underestimating RIMM's strength and ability to respond to the competition. Furthermore, and this is very important, Research In Motion has been ranked the #1 stock in the tech sector according to Standpoint's 155 variable quantitative model. Using this model in combination with subjective and fundamental research, Standpoint's recommendations have been able to beat the S&P 500 for seven years in a row. On the day, shares of RIMM have gained 1.69%.