Research in Motion Ltd. (NASDAQ: RIMM) is getting a boost this morning from an analyst upgrade. The maker of the notorious Blackberry was raised at Citigroup with a new “Buy” rating rather than the prior “Hold” rating and was even given one of the “Top Picks” status at the firm. The old $65.00 target was also raised to $100.00. Citigroup had been one of the more cautious firms against the trends at RIM, so the company appears to be losing one of its key critics. The firm had been steady with a “Hold” rating even before earnings, and the stock has run up 40% since before that. Shares closed at $68.27 yesterday, and they are trading up over 2% at $69.85 in early trading.
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Research in Motion Ltd. (NASDAQ: RIMM) is getting a boost this morning from an analyst upgrade. The maker of the notorious Blackberry was raised at Citigroup with a new “Buy” rating rather than the prior “Hold” rating and was even given one of the “Top Picks” status at the firm. The old $65.00 target was also raised to $100.00. Citigroup had been one of the more cautious firms against the trends at RIM, so the company appears to be losing one of its key critics. The firm had been steady with a “Hold” rating even before earnings, and the stock has run up 40% since before that. Shares closed at $68.27 yesterday, and they are trading up over 2% at $69.85 in early trading.
