Kaufman Bros. Maintains Buy Rating On Research In Motion (RIMM)

Analyst Shaw Wu at Kaufman Bros. has released an update on Research In Motion (NASDAQ: RIMM). The company reported its fourth-quarter results on Wednesday.

Research In Motion reported revenue of $4.1 billion in its fourth-quarter, which was below consensus estimate of $4.3 billion. The company reported EPS of $1.27, slightly below consensus estimate of $1.28. The miss was due to lighter-than-expected shipments. Gross margin expanded to 45.7% in the quarter.

For the quarter ending May, Research In Motion expects revenue of $4.25-$4.45 billion and EPS of $1.31-$1.38. Kaufman Bros has raised its FY2011 forecast for Research In Motion. Revenue estimate has been raised from $17.9 billion to $18 billion, while EPS has been raised from $5.15 to $5.30.

Kaufman Bros. has maintained its Buy rating and $93 price target for Research In Motion.