“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.”
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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.
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