Goldman Digs The R-I-M (RIMM)

By Douglas A. McIntyre Updated Apr 27, 10:22PM EDT · Published Mar 26, 8:22AM EDT

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Research in Motion Ltd. (NASDAQ: RIMM) is soaring this morning on an analyst research note. Goldman Sachs has said that traders should buy the stock ahead of next week’s earnings announcement due on April 2. We have seen most of the note and it looks like the channel checks indicate that sell-thrus came in good enough considering the current valuation of the stock. There is even a note that gross margin could be up while others are seeing a drop in margin. This note does fly a bit in the face of a more macro news bite yesterday showing that analysts have been cooling to the name in the current climate.

R-I-M shares are up over 5% pre-market on active trading at $45.10. The 52-week range is $35.05 to $148.13. As a stock, R-I-M has not participated at all in the rally on a net basis over the last 5-day range of $41.50 to about $44.90. If this morning’s gap-up can hold, it could change the chart. There seems to be a virtual no-man’s land between $43 and $47…. The price target at Goldman Sachs is $57.00.

Jon C. Ogg
March 26, 2009

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.