Research In Motion - Possible $56 Stock Price In 12 Months?
By: George Kesarios
January 20, 2013
The buy upgrade from Jefferies and the target price of $19.5 a share is a reason alone to buy the stock. The most bullish case scenario of $56 a share is another reason. The large amount of shorted stocks are also a reason why RIMM will not correct very easy.
So as to my final verdict, given the forensic evidence we have, my buy rating on RIMM still stands, even at these levels and even though the stock has already doubled from my initial recommendation. On a final note, my recommendation will continue to be a buy, until such time I have evidence that RIMM will not be able to double within a 12 month period or something has happened to the company that will make me change my mind.
Sentiment: Strong Buy