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Technology Stocks : Research In Motion TSE RIM Nasdaq RIMM -- Ignore unavailable to you. Want to Upgrade?

To: Imran who wrote (75)	6/3/1999 1:42:00 PM
From: Moneysmith	Read Replies (1) \| Respond to of 989

Read this: -- =DJ Research In Motion Rising On Strong U.S. Buying >RIMM -- By Scott Adams TORONTO (Dow Jones)--Wireless equipment company Research in Motion Ltd. (RIMM) has risen sharply in the past three days, driven by heavy buying in the U.S. Thursday on Nasdaq, the stock is up 1 1/16 to 17 13/16 on 1.7 million shares, for a gain of 26% since Monday's close. In Toronto trading Thursday, the stock is up 1.55 to 26.35 on 1.3 million shares, for a gain of 29% since Monday's close. Trading in the stock has been busier in the U.S. this week. The Waterloo, Ont. company makes handheld wireless paging and e-mail devices and other wireless devices. U.S. Bancorp Piper Jaffray analyst Samuel May said Research in Motion has been given a boost because the company's management was visiting him and his firm's salespeople in the U.S. earlier this week. May initiated coverage on the company with a "strong buy" rating and a price target of US$20 in a May report. "This is a company with risk," he said. "It is early, in an emerging market. (But) it's got a very good product and its one of the few pure plays out there so investors are probably saying they have to own it." As well, on Thursday, Canadian brokerage RBC Dominion Securities raised its target on the stock to C$27 from C$20. Merrill Lynch started coverage of the company in mid-May with a target of US$16, increased to US$18 on May 25, when 3Com Corp. (COMS) released its Palm VII. In a report, Merrill analyst Steven Milunovich noted 3Com's powerful marketing presence, but said the introduction of the Palm VII should help the entire appliance market. As well, he said Research in Motion has a more attractive hand-held device than the Palm VII. Milunovich's target price is based on 45 times his estimate for fiscal 2001 net of 40 U.S. cents a share. The stock has moved up sharply since it listed on the Nasdaq earlier this year. It traded under C$10 before that. "They've got much more exposure into a broader group of fund managers that before couldn't buy something that was a foreign stock and now they can buy it," May said. -Scott Adams; 416-306-2026; scott.adams@dowjones.ca (END) DOW JONES NEWS 06-03-99 01:34 PM- - 01 34 PM EDT 06-03-99 Symbols: CA;RIM US;RIMM Source DJ - Dow Jones Categories: I/CMT I/TEL SUB/DJN N/DJN SUB/DJWI N/DJWI SUB/DJS N/DJS SUB/MMM N/MMM SUB/STK