RIM Shares Increase Due to BlackBerry 10's Potential

News
By Zak Islam
published

Stock jumps by 6 percent following Goldman Sachs analyst raising rating of firm to a "Buy".

In a rare occurrence, RIM's stock increased by 6 percent after a Goldman Sachs analyst raised her rating to a "Buy" and spoke positively about BlackBerry 10.

Simona Jankowski increased her rating on RIM stock to "Buy" from "Neutral" after stating that there's a "30 percent chance" BlackBerry 10 smartphones will be commercially successful.

Goldman Sachs also increased its 12-month price target for RIM shares from $9 to $16. Jankowski referred to early positive reviews for the upcoming mobile operating system and support among carriers who are looking for a third major ecosystem alongside iOS and Android. Over 50 carriers are currently testing the platform.

She believes RIM will finally report a profit in its fiscal year ending February, 2014. That said, the analyst expects the firm to return to losses the following year.

BlackBerry 10, which RIM believes will win back users, releases globally on January 30, 2013. The first handsets powered by the OS is expected to launch within a month after that.

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Zak Islam
9 Comments Comment from the forums
  • freggo
    We all know from the Facebook stock value how much the opinion of an Analyst is worth.
    May as well roll so dice.
    Reply
  • steve360
    Advice from Goldman Sachs might as well be snake oil.
    Reply
  • fleeb
    I would rather not have RIM die. Multiple competitors striving to bring the best for consumers is victory for consumers.
    Reply
  • IndignantSkeptic
    I think this will fail because it's not android.
    Reply
  • icemunk
    Obviously RIMs shares should increase, as they haven't released a new phone in some time.. so they have been selling 2 year old phones that aren't selling well. The new BB10 phones will be super phones just like the others on the market, and their flagship is a quad-core with 2GB of RAM, and a large screen. This will obviously increase sales for them. They aren't going to supplant android, but they may re-gain some market share.
    Reply
  • Been a fan of toms for a long time , although i don't post comments but what's confusing me is the type of news Zak is providing us. I don't hate Zak or anything for posting news about apple but this type of articles doesn't fit in the website. I want tech news not financial recomendations and similar crap
    Reply
  • fonzy
    Now waiting for some bad news...usually follows any good news RIM gets.
    Reply
  • rushfan
    I'm taking a call from RIM today about preparing our infrastructure for BlackBerry 10. There's not a doubt in my mind that BB10 will be superior to Android and iOS. I am really looking forward to the new devices.
    Reply
  • izmanq
    fonzyNow waiting for some bad news...usually follows any good news RIM gets.
    yeah, next what you hear is RIM stocks drop like stone :p

    after release positive analyst, goldman sachs sell all their shares :p

    Reply