mobile: as the recession ends, RIM will gain from firms replacing Blackberry handsets

[moconews] Research In Motion is selling more BlackBerries than ever before, but UBS analyst Jeffrey Fan thinks its best days are ahead. He has upped his rating on the Canadian handset maker to “Buy” from “Neutral,” and has raised his forecast to $90 from $65 a share, based on his philosophy that RIM will be a good bet in an economic recovery.

Fan contends that part of the rebound will be driven by companies restocking their shelves as they start to hire new employees, or replace old devices within the enterprise. Fan believes that “given little competition in the enterprise market,” as well as limited IT budgets to cover switching costs, depleted inventory of Blackberries in IT closets, continued and pent-up replacement demand and rehiring in an improving economy, “hardware units can drive material upside” to consensus estimates for the February 2011 fiscal year,” reports Barron’s. RIM itself appears to be looking for growth in the consumer market, selling more handsets at a lower margin

Analyst: Economic Recovery Will Raise RIM As Companies Restock
see also Barron's blog