Shares in BlackBerry-maker Research In Motion are continuing their upward march.
RIM stock is trading up almost seven per cent, or $1.06 to $16.77 in the early going on the Toronto Stock Exchange.
The stock (TSX:RIM) has gained some 14 per cent since the close last Monday, and more than 170 per cent since hitting a 52-week low of $6.10 last September.
The recent surge comes as RIM prepares to unveil its new BlackBerry 10 operating system and line of smartphones on Jan. 30.
On Monday, president and CEO Thorsten Heins was quoted in a German newspaper as saying the Waterloo, Ont.-based company is still open to licensing its new OS, but not before the launch.
The paper also quotes Heins as saying the sale of RIM's hardware production arm is also a possibility.
On Friday, Jeffries & Co. analyst Peter Misek raised his target estimate for RIM to US$19.50 per share, from $13.
In a note to investors, Misek said he expects RIM to open its corporate BlackBerry email services to iPhone and Android devices, which would be a new revenue stream for the company.
BlackBerry 10 is widely considered a make-or-break product for the once dominant smartphone maker, which has seen its market share eroded by Apple and Android devices.
Read more Business News
- Orchardists busy after rainfallPenticton / S. Okanagan
- Ric's workers jobless, homelessKelowna - 5:00 am
- Industrial zone floodedKelowna
- Ennis withdraws parole requestWest Kelowna
|QHR Technologies Inc||1.17||+0.02|
|Anavex Life Sciences||0.25||-0.03|
|Copper Mountain Mining||2.80||-0.02|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.19||+0.01|
The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...
The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...
Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...