Published in Mobiles
RIM shares surge 17 percent
by Nedim Hadzic on23 November 2012
Blackberry 10 already ruffles feathers
It appears like there's some really healthy interest in Research in Motion's upcoming push as the company is nearing the launch of its brand new Blackberry 10 line.
RIM's shares jumped by 17.3 percent, which is attributed to optimism surrounding the upcoming launch. Apparently, this is courtesy of National Bank's analyst Kris Thompson, who boosted the price target from $12 to $15, prompting others to do the same.
It is said this is the highest level RIM's shares have managed on Toronto Stock Exchange since May 2012. At the same time, this is the biggest gain the company has had since April 2009, which puts things into perspective quite nicely.
Thompson rated RIM's stock at “outperform”, which does put some pressure on the company but again indicates the market's expectations quite well. This is partly due to “positive sentiment building in the industry” over the launch, but Thompson had nice things to say about RIM's management team as well.