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
NYC's Met opera still negotiating with 10 unions
Macy's to pay $650,000 in shopper-profiling probe
US safety agency offers online recall check
Free the booze, drink in the profits: study
Japan trade deficit widens, exports up slightly
Singer Ray J denies crimes at Beverly Hills hotel
Eatery that served toxic tea had labeling citation
Lucrative Grand Canyon contract up for bid again
Anna Nicole Smith's estate loses bid for millions
Funds earmarked for startups
PetSmart to consider selling itself
FDA approves new drug for rare genetic disease
Uber hires former Obama adviser Plouffe
US wants to make cars talk to each other
Attorney blasts fatal police shooting at Wal-Mart
Prison company pays $8 million in back wages
Peanut, almond butter recalled for salmonella risk
How the Dow Jones industrial average fared Tuesday
Uber hires former Obama adviser
Fork lift load falls on man, fatally injuring him
Most actively traded companies on the TSX
List of Penn West class action lawsuits grows
Audit: 'Obamacare' tax not meeting revenue target
The top 10 books on Apple's iBooks
Spotify's Top 10 most viral tracks
US stocks move higher; Home Depot rises
Committee approves higher pension calculations
Trudeau blasts Harper's pipeline policy
Grain mixed and livestock higher
WWII bomb found near Frankfurt airport
Defence grills plant manager in salmonella trial
AP Exclusive: US changing no-fly list rules
WhiteWave to remove ingredient from Horizon, Silk
NY regulators sanction Standard Chartered Bank
Ballmer steps down from Microsoft board
Islanders announce sale of minority stake of club
CEO of bankrupt oil company sentenced in scheme
Farmers given more time to repay cash advances