The coming year for Research in Motion Ltd. looks to be a good one as users are likely to replace their handsets with newer models, an analyst says in a new note.
Peter Misek with Canaccord Adams estimates product shipments for the company will rise to 50 million units from 45.2 million units during the year. This will also bump up revenues for the Waterloo, Ont.-based company to US$19.24-billion from US$18.4-billion.
"We expect that a meaningful device refresh cycle among enterprise users will drive higher-than-expected device shipments," he said.
Mr. Misek maintains a Buy rating while raising the target price to US$100 from US$95.