Goldman Sachs boosts rating on beleaguered RIM, shares surge

“Research In Motion received a big boost on Thursday after Goldman Sachs raised its rating on the company, sending shares of the BlackBerry maker soaring more than 12 percent in trading before the morning bell,” Euan Rocha reports for Reuters. “The brokerage firm is the latest to join a growing chorus of analysts to turn more positive on RIM’s prospects ahead of the launch of its make-or-break new line of devices that will vie against Apple’s iPhone and Android-based smartphones.”

“Goldman raised its rating on RIM to ‘buy’ from ‘neutral,’ while also lifting its price target on RIM’s shares to $16 from $9,” Rocha reports. “The announcement sent RIM’s shares up 12.2 percent to $12.45 in premarket trading in the United States.”

“‘We are upgrading Research in Motion to Buy from Neutral, as we see a positive risk/reward heading into its BlackBerry 10 launch on January 30,’ Goldman analyst Simona Jankowski said in a note to clients,” Rocha reports. “Earlier this month, Jefferies & Co analyst Peter Misek, who has been one of RIM’s biggest critics, raised his rating and price target on the stock. And last week, National Bank analyst Kris Thompson raised his price target on the shares, stating that there is more money to be made in the stock ahead of the launch of the BB10 devices.”

Read more in the full article here.

MacDailyNews Take: The leeches are scraping the last few bits of flesh from the carcass before it’s finally buried for eternity.

BlackBerry 10 needed to launch in 2010, not 2013 – and even that feat of time travel would’ve only prolonged the inevitable.

Related articles:
U.S. NTSB dumps beleaguered RIM BlackBerry over reliability issues, switches to Apple iPhone 5 – November 20, 2012
Analyst: Beleaguered RIM’s BlackBerry 10 phones will be ‘DOA’ – November 7, 2012
U.S. Immigration and Customs (ICE) dropping RIM BlackBerry and purchasing 17,000 Apple iPhones – October 19, 2012
BlackBerry 10 adds so many features that so few people want – September 25, 2012
As Apple’s iPhone 5 debuts, beleaguered RIM has massive BlackBerry outage hits Europe, Middle East, Africa – September 21, 2012
Gartner sees BlackBerry, Android users upgrading to Apple’s iPhone 5 – September 20, 2012


  1. You are wrong. In the morning or Monday huddle, they pick out those heavily margined. The bet has been to short RIMM. The shysters know how to force the fools to cover. Probably shorted the its and loaded up with calls. As soon as this moves u, they will load u the puts and short the calls. Probably advised some pansy hedge funds to buy after today.

    The Monday huddle identifies the margined positions to attack.

  2. Son of a bitches probably shorted their entire portfolio and then told the world to go long. And just when you buy in, the price will sink like a rock to the bottom of the ocean.

    RIM is a one trick pony. Right now that pony is wandering lost in the Canadian prairie looking to be eaten by a cougar on the loose. It’s just horsemeat right now.

    1. Give ’em some credit: they’re a two trick pony. They got big on advanced two-way pagers, then they lucked out on mobile email. But they tied themselves to Microsoft technology (Exchange), and you know what happens when you jump in bed with Microsoft.

        1. Ah, you mean the Goldman-Sachs that took $10 billion in bailout money and then, less than 3 years later, outsourced 1,000 jobs to Singapore, dumping their US — former taxpaying, bailout enabling — employees while at the same time making a record profit of $2.7 billion in just the first quarter of 2011?

          There’s a special circle of hell reserved for their ilk.

  3. Because I have resolved to try and be a better person so Santa brings me what I want for Christmas, I will stop myself from saying what I really think about GS. Let me just say it has something to do with fecal matter and rotting in hell.

  4. Delaying a not ready for prime time BlackBerry 10 was a good move. It gave RIM a black eye, but releasing a bad product would have killed them. (faster)
    Fixing it later would not have mattered.
    At least they don’t make their own maps. 😉

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