Research In Motion (RIMM) and Motorola (MOT) have been on divergent paths as of late. Piper sees no reason that trend will stop.
Piper is raising estimates and target price for RIMM based on June channel checks that indicate very strong sales of the Curve at all four leading U.S. carriers. Piper also believes the BlackBerry will continue to gain market share.
Piper maintains a NEUTRAL for Research In Motion (RIMM), target price from $124 to $156.
The firm’s June channel checks show that Motorola will continue its market share losses in their North American handset business.
Piper downgrades Motorola (MOT) from Hold to SELL, target price from $9.75 to $7.
BlackBerry Curve Hot At Verizon, Lehman Jacks Estimates (RIMM) (RIMM, VZ)
Motorola (MOT) Smacked By Report From One of Its Manufacturers (MOT, NOK)
Lame Motorola (MOT) Downgraded Again on Weak Channel Checks and Market Share Losses (MOT)
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