RIMM: Canaccord Upgrades As Storm Rolls In

Research In Motion (RIMM) this morning announced that its new touch-screen BlackBerry, the Storm, will start shipping to Verizon (VZ) and Vodafone (VOD) later this fall. The device will be priced in line with the Apple (AAPL) iPhone at $199, and will match Apple’s 8 GB of storage capacity. Canaccord Adamas analyst Peter Misek responded to the news by upping his rating on the stock to Buy from Hold. Misek wrote that “the unveiling of RIM’s highly anticipated touch screen handset should provide some much needed relief to the investor base.” He says the Storm news should boost Street confidence in estimates for the fiscal third quarter ending in November and the fourth quarter ending in February. Other analysts also weighed in on the importance of the Storm: RBC Capital’s Mike Abramsky , who has a Sector Perform rating on the stock, writes that the Storm has some advantages over the iPhone, including BlackBerry email, a removable battery and a 3.2MP ... (link)