Winnipeg Free Press - PRINT EDITION
Posted: 02/5/2013 1:00 AM | Comments: 0
Last Modified: 02/5/2013 9:44 AM | Updates
TORONTO -- The launch of the new BlackBerry smartphone is getting off to a better start than some had predicted.
At least two analysts have weighed in with anecdotal evidence that suggests the BlackBerry Z10 is selling at a solid pace in the United Kingdon since going on sale there last Thursday.
The Canadian launch today will give further insight into how the phones will fare in the U.S. when they hit stores next month.
But so far, investors appear to be impressed.
The BlackBerry company's shares rose more than 15 per cent on Monday, moving ahead $1.98 to close at $14.99 on the Toronto Stock Exchange.
Earlier in the day, a senior analyst at Bernstein Research upgraded the company to "outperform" with a target price of $22, an increase from $12.
"We have grown more confident in the likely success of the BlackBerry 10 launch, supported by low channel inventories, strong operator support and material pent-up demand," said Pierre Ferragu from Bernstein in a note.
"Initial feedback we have received from distributors on the first days of sales is particularly positive."
Last week, Jefferies analyst Peter Misek said the new touchscreen device sales were off to a "strong start" in the UK.
"Some stores had lineups out front with widespread sellouts of the white Z10 and limited stock of the black Z10," he said in a note.
"Also, our checks indicate that pre-orders in the UAE and Canada have had a solid start. While this is not the crux of our call, these initial data points could provide some relief as many thought that the Z10 was DOA."
-- The Canadian Press
Republished from the Winnipeg Free Press print edition February 5, 2013 B4
Updated on Tuesday, February 5, 2013 at 9:44 AM CST: replaces photo
Have you found an error, or know of something we’ve missed in one of our stories? Please use the form below and let us know.
Having problems with the form?Contact Us Directly
Stocks fall after government reports slower economic growth
Barclays downgrades three Canadian banks
AbbVie reports better-than-expected 4Q on Humira sales
Loonie lower, November GDP declines
Stocks markets to decline amid slowing growth
US pay and benefits rose by most in 6 years last year
US economy slows to 2.6 per cent growth in fourth quarter
MasterCard tops Street 4Q forecasts
Ontario pension adds to mall portfolio
Myanmar opens deep sea port for Chinese oil pipeline
Merkel to visit Hungary at time of huge political challenges
Ohio State expects $3M royalties bump after championship win
Barbie blues gave Mattel holiday disappointment
Top Romanian banker: cannot help Swiss franc borrowers
Marlboro maker Altria's 4Q profit more than doubles
Russia gives $3 billion Crimea bridge contract to Putin ally
Markets brace for Big Oil profit plunge
Germany: Talk of axing Greek debt 'divorced from reality'
Police: Teen who demanded airtime on Dutch TV acted alone
Eurozone prices plunge 0.6 pct amid weak growth, cheap oil
World stocks uneven ahead of US growth report
Chinese MH370 relatives reject word that passengers are dead
Spain's economy grows 1.4 pct in 2014 as recession fades
Germany sees first increase in beer sales since 2006
Qatar Airways buys nearly 10 per cent of BA, Iberia parent
Russia cuts key rate to help economy, leaving ruble to drop
How can Google snap its stock out of its stupor?
New ammunition against canola foe
Cash flows from remnants of Arctic Glacier fund
Fewer drivers dying behind the wheel
Big shortfall in mining-taxes prediction
Businesses stay clear of using Super Bowl name
Honda lowers forecasts after recalls push profit down
Meet Ida May Fuller, recipient of 1st Social Security check
Smart Spending: Why investors are applauding Amazon earnings
House Democrats vow to explain their vision better in 2016