The biggest winner from last week’s news that Nokia is beginning a two-year transition to adopt Microsoft Windows Phone 7 as its primary smartphone platform could actually be…Research In Motion (RIM, maker of the BlackBerry).
Certainly, that’s the way Citigroup analyst Jim Suva sees it.
This morning, he raised his rating on the BlackBerry maker’s shares to Buy from Sell, setting an US$80 (58.81 euros) price target on the stock.
He notes that Nokia’s move will create “a multi-quarter gap in Nokia products and carrier promotion support.”
Suva writes in a research note the he met with a number of international carriers at the Mobile World Congress (MWC) in Barcelona this week “who commented on their forthcoming shift to promote other handset OEMs” – to the benefit of Apple iPhone, Google Android and RIM BlackBerry phones – “until Nokia’s product strategy is more realizable.”
That could mean a big opening, given that Nokia has 35% of the global handset market.
For the February 2012 fiscal year, Suva boosts his EPS forecast to US$6.74 (4.95 euros) a share, from US$5.62 (4.13 euros); for FY 2013, he goes to US$6.81 (5.01 euros), from US$4.03 (2.96 euros).
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