Wall Street Looks Up to RIM *UPDATED*

After weeks of weathering the storm against several downgrades and under performance ratings, Wall Street finally looks to RIM to continue its positive growth trend. The PlayBook was under heavy scrutiny last week, but analysts are NOW saying RIM has a great product and a firm hold on its future amongst the “big players” in the market. 

Right now we all know and have come to love our BlackBerry. What always gets us down, as well as Co-CEO Mike Lazaridis, is the fact that RIM is very undervalued and the BlackBerry is seen as a device of the past. RIM has always longed to capture the enterprise market and, only recently, has the company crept closer towards offering a more consumer device.

Cue the PlayBook. A sleek tablet computer; power on the inside, grace and finesse on the outside. Powered by a brand new operating system the device seemed to be a sure winner. That was until the reviews came about. Enter Baron’s.

I have already mentioned the post made by Baron’s over the weekend on how the smartphone (and now tablet) company would fare in today’s market economy. “RIM’s valuation remains the theater of the absurd,” Tavis McCourt, an analyst with Morgan Keegan, told Barron’s. McCourt later added that he expects a 40% growth in revenue for the Canadian company over the next few years and projects that it will nearly double its stock price within the next year!

What always remains the main point here is that RIM will never, EVER, give up its hold on the enterprise market. That is a place where no one else can go and no one else really wants to go. Consumer devices are where the large profit margins lay, but RIM has spent 7 years of its infancy pushing its products into enterprise. Why?

Few people know of Mike Lazaridis and his education and background. It comes with a mixture of in-depth science and passion for being Canadian. For Most Canadians, RIM takes the cake. They are the brim and standard for all things innovation when it comes to the technology market and surely no one wants to see that reputation take a hit. Analyst Jeff Kvall, of Barclays Capital, seems to think it won’t happen – “RIM still owns the enterprise market, and will own it for a long time to come. The iPhone is not a big threat.”

Regardless of what Wall Street thinks of RIM, they still hold a strong grasp on all things enterprise, despite Apple’s attempts on breaching into the fray. With this news raining in, I think the outlook will remain positive, especially with the debut of yet another tablet competitor tomorrow.

I, for one, am glad analysts are standing up for RIM and giving praise where praise is due. Hell, I know if I had a company that had over $2 billion in cash, I’d have a lot on my mind too. But for all you BlackBerry lovers, rest assured, RIM isn’t going anywhere…and if the future holds true, and the road map for 2011-2012 comes to fruition, RIM could see themselves atop the market, looking down at the rest of the world yet again.

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Source: StreetInsider.com