Macquarie Equities Research Gives RIM an Outperform Rating and US$40 Share Price Target

Analysts for the most part have been parroting each other lately when it comes to RIM and its share price. At least one group, Macquarie Equities Research, isn't listening to the hype and is giving RIM an Outperform rating and a US$40 per share price target. Kevin Smithen, senior telecom services analyst with Macquarie, believes that while RIM may be seeing some decline in US markets, it is far better positioned internationally than other brands. According to Smithen, international markets are reluctant to adopt the iPhone or Android devices due to fears of their high-margin text messaging revenue being cannibalized. Lower subsidies for carriers in emerging markets also make for higher margins for RIM on each BlackBerry sold.

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