Photo credit: Getty Images | Research in Motion (RIM) chief executive Thorsten Heins speaks during the BlackBerry Jam 2012 conference at the San Jose Convention Center in California. (Sept. 25, 2012)
Research In Motion Ltd. climbed to its highest price in almost a year after a Jefferies & Co. analyst upgraded the stock to buy, citing the potential for its new software to offer corporate e-mail on rival devices.
RIM rose 6.2 percent to $15.84 at the close in New York Friday, its highest level since Feb. 9. Peter Misek, a Jefferies analyst, said the company may be able to retain more corporate customers because its new BlackBerry 10 secure e-mail will be available on smartphones that run Apple Inc. iOS and Google Inc.’s Android software.
RIM’s value has more than doubled since late September amid growing investor optimism that the new BlackBerry 10 software set to debut Jan. 30 can engineer a sales recovery and return to profit. Earlier this week, the Waterloo, Ontario-based company said more than 1,600 companies in North America have signed up to test out BlackBerry 10, reflecting business users’ enthusiasm to try the new phones.
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