Jan 21, 2013 / 7:40 am
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
|QHR Technologies Inc||0.55||-0.03|
|Anavex Life Sciences||0.53||0.00|
|Copper Mountain Mining||1.52||-0.16|
The majority of Canadians prefer to make their big move during the summer season. There are a variety of reasons for choosing this time of year: it is easier to transport boxes in non-icy condition...
It appears as though more people these days are looking for an investment in real estate which offers cash flow returns. The fundamentals of cash flow type properties had been turned upsi...
Getintheloop Marketing Ltd. recently launched their membership platform, Getintheloop.ca. The new website offers an exclusive members area for access to discounts in the South Okanagan on premium res...
- 'Gatsby' earns $51.1M, 'Iron Man' $72.5M
- Chrysler recalls nearly 470,000 SUVs
- Bell not interested in selling more Astral
- Loonie dips over a quarter
- Taxman and the offshore tax havens
- Sharktopus views turns on YouTube TV
- Social media makes Disney blink
- BCE looks to cut $170 million
- TD Bank: Loonie could fall to 90 cents US
- Mixed results for North American markets
- Ex-Enron CEO cuts new deal
- Canadian dollar nudges upward