AmTech Says Buy Research In Motion Ahead of Q2 Earnings (RIMM)

American Technology Research is out with a research report this morning saying it would be a buyer of Research In Motion (Nasdaq: RIMM) ahead of its Q2 earnings report, which is expected out Thursday, September 25. The firm maintains its Buy rating and $190 price target on shares of Research In Motion.

The firm believes Research In Motion will report a strong quarter and guide estimates higher versus the Street estimates. Citing recent checks, AmTech believes "subscriber trends and unit shipments remained strong through the quarter", potentially providing $0.02-$0.03 of EPS upside. As far as guidance, AmTech estimates a unit outlook of around 7.5 million handsets, but said that Research In Motion has the "potential to ultimately report 8 million" units.

Although positive on Research In Motion's earnings report, AmTech said it no longer believes that "November will be the massive blow-out we thought earlier in the summer. We believe this will come in the February quarter and continue through next year."

Research In Motion most recently traded at $100.64, down $5, or about 4.75% from Friday's close.

Research In Motion Limited engages in the design, manufacture, and marketing of wireless solutions for the mobile communications market worldwide.

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