Research in Motion (RIMM) Will Shine in Fourth Quarter Says BMO

Citing their checks, BMO said the fourth quarter for Research in Motion (NASDAQ:RIMM) will be strong, even though they haven't released new products in the quarter.

BMO Capital analyst Tim Long noted, “Our checks indicate that RIMM is seeing strength in all regions outside North America, despite a lack of new products in the quarter. We believe the Torch, 9300, 8520, and rollout of BB 6.0 are all leading to upside.”

The fourth-quarter earnings estimate was raised from $1.77 to $1.81 a share, above consensus of $1.75 a share.

The 2012 earnings estimate was boosted from $7.40 a shared to $8 a share. Long introduced 2013 an earnings estimate of $9.25 a share.

RIMM was trading at $68.04, gaining $2.21, or 3.36 percent, as of 11:53 AM EST.