Research In Motion: Street Gets The Warm and Fuzzies

Research In Motion (RIMM) didn’t provide a lot of concrete news at its analyst day yesterday; there were no new models unveiled, and no updated financial guidance. But the analysts nonetheless came away from the event feeling generally more upbeat on the company than when they arrived. And that has given RIMM shares a modest boost in today’s trading. I’d note that the most notable comments and price target changes came from the more bearish analysts on the stock; maybe they fed the gurus comfort food at lunch and gave them blankies to hold. (Hmmm…the BlackBerry Blankie…it has possibilities, no?) Here’s a rundown on some of the post-meeting analysis: Ehud Gelblum, J.P. Morgan : In the biggest change of the day, he upped his rating to Neutral from Underweight, and raised his price target to $74, from $40. (The stock closed yesterday at $74.30. “We now believe our primary fears - namely the risk of falling ASP, rising R&D spending and ... (link)