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.