Shares of Waterloo’s Research In Motion are up more than 6% in trading today, bringing the company’s stock well above $15 and close to a 52-week high.
After continued steady gains throughout the past two weeks, RIM shares are now up over 170% from their low of $6.10 last September.
As more people test out the company’s next-gen mobile platform, more people love it. Analysts have been upgrading the stock’s rating, while investors have shown a renewed faith in RIM by buying at a risky time. For example, Jeffries & Co. analyst Peter Misek last week raised his target estimate for the Canadian BlackBerry maker to $19.50 per share—a dramatic jump from his previous $13. And he’s far from alone in his thinking.
RIM is slated to launch BlackBerry 10 in less than two weeks on January 30.
Photo: Andrew Vaughan, The Canadian Press