RBC Gets Ultra-Aggressive on R-I-M, Apple, Palm (RIMM, PALM, AAPL)

Research-in-Motion Ltd. (NASDAQ: RIMM) was running this morning in our top day trader alerts, but it turns out that there was much more to the call than meets they eye.  RBC Capital Markets has lifted its price targets for the smartphone makers this morning and now appears to have the highest price targets on Wall Street. Palm Inc. (NASDAQ: PALM) and Apple Inc. (NASDAQ: AAPL) are also in this call.

Research-in-Motion Ltd. (NASDAQ: RIMM) was reiterated as “Outperform” but the old $100 price target was lifted all the way up to $150.  With shares up over 2.4% at $72.40, that still implies more than a double from today’s prices.  We had $115 as the highest price target, so this looks to be the highest analyst price target outstanding on R-I-M.

Palm Inc. (NASDAQ: PALM) was also given a positive report as it was reiterated as “Outperform” on added hopes for stronger Palm Pre sales.  The price target was raised from $18 to $25.  The highest price target we have seen was $23.00, so this looks to be the new high price target on the stock.

Apple Inc. (NASDAQ: AAPL) was reiterated as “Outperform” on iPhone dominance and on the hope for new products coming soon.  But its price target was lifted from $190 to an aggressive $250.  This is above the other highest target of $225 that we had seen.

Obviously a market a bounce is helping these calls, but all of the stocks are higher.  R-I-M is up 2.4%, while Palm is up over 4% at $13.78 and Apple is up 1.7% at $162.30.

JON C. OGG
AUGUST 18, 2009