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BlackBerry-maker RIM shares jump after Goldman buy rating

Toronto Star - Nov 29, 2012

A wave of optimism surrounding the launch of Research In Motionís re-engineered BlackBerry line picked up momentum on Thursday with Goldman Sachs raising its rating on the smartphone maker and setting off another surge in its share price.

RIMís share price closed up 42 cents or 3.9 per cent at $11.52 (U.S.) in trading in New York. Earlier in the day it had been up by as much as 13 per cent in pre-market trading.

The brokerage firm joined a growing chorus of analysts who have warmed to the prospects of a successful introduction of the new BlackBerry 10 devices, which RIM hopes will let it claw back market share lost to Apple Incís iPhone and smartphones powered by Googleís Android platform. The BB10 devices are expected to hit store shelves early next year.

The shift in sentiment has been swift. A few weeks ago, most analysts believed RIM had squandered any chance it had to become a serious competitor because of repeated delays in the launch of the new smartphone.

Read Full Article from Toronto Star

- Posted: 2012-11-29 17:00:30


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