Research in Motion Ltd. (NASDAQ:BBRY) – er, BlackBerry, Ltd., which is a stock pick for about 30 of the equity hedge funds we track – is continuing its steady move forward with its new BlackBerry 10 operating system and Z10 handset, despite some less-than-impressive opening numbers in the U.K. and Canada. One thing that BBRY has going for it – which is nice – is that it has had a decent foothold in the mobile marketplace in Indonesia. And it is in that friendly, loyal marketplace, the company is looking to launch a new mobile-banking service.
Introducing BBM Money for the BlackBerry in Indonesia, announced by Research in Motion Ltd. (NASDAQ:BBRY) in partnership with Montilise plc and PermataBank. “With BBM Money, customers have the ability to create and access a mobile money account from their BlackBerry smartphone and make real-time payments to their BBM contacts who are also signed up to the service. They can also buy mobile airtime credit and transfer money to bank accounts,” says a statement from Research in Motion.
In related news, there seems to be some differing opinions of Research in Motion Ltd. (NASDAQ:BBRY) and its stock performance in the wake of the BB10 launch. UBS AG (USA) (NYSE:UBS) reported this week that it was lifting its price target from $9.50 to $13 per share and placed a “neutral” rating on the stock. By contrast, a couple other analysts have lowered their targets. MKM Partners lowered its target to $10 from $12, while Canaccord Genuity posted a $9 target while affirming its “sell” rating.
What do you think? Let us know your thoughts about Research in Motion Ltd. (NASDAQ:BBRY) or your thoughts about this BBM Money concept that utilizes BlackBerry’s Messenger service to conduct mobile banking. Chime in below in the comments section.
DISCLOSURE: I own no positions in any stock mentioned.
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