Further Progress in New RIMM Browser, Touchscreen

Analyst Shaw Wu of Kaufman Brothers maintains his "buy" rating on Research In Motion Ltd (NASDAQ: RIMM). The target price for RIMM is set to $93.

Channel checks indicate that Research In Motion’s new browser will take advantage of its push network. RIMM “still sold a record 10.1 million BlackBerries last quarter (vs. AAPL's 8.7 million iPhones) with a mediocre browser due to strength in its email, desirable keyboard form factors and attractive price points,” the analyst says. “We can't help but wonder how many more units RIM could sell with a quality browser,” the analyst adds.

“In terms of timing, we believe RIM will likely give a demo of its new WebKit browser and potentially ship in the next few months… We continue to believe the company is well positioned in the smart phone space with its vertical integration and superior push network technology,” Kaufman Brothers adds.

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