With New York markets closed Thursday for the Thanksgiving holiday, shares of RIM are flying in Canadian trading. On the Toronto Stock Exchange, Research in Motion stock is 12% higher as traders and investors are getting excited about BlackBerry 10. One analyst raised his rating on the stock due to "positive sentiment building in the industry". The stock is the most actively traded issue on the Toronto Stock Exchange on Thursday.
RIM's shares are reflecting optimism over BlackBerry 10, prices in Canadian Dollars
RIM CEO Thorsten Heins has been on the road, promoting BlackBerry 10 which is the new OS developed by RIM. The software will be launched on January 30th along with the first two handsets to run on the platform. On Thursday, National Bank Financial analyst Kris Thompson raised his price target on RIM's stock to C$15 from his previous target of C$12. The shares currently are valued at C$11.52 after a rise of C$1.29. Four years ago, RIM was trading above C$140.
Thompson sees RIM shipping 35.5 million handsets in 2014, up from an earlier estimate of 31.6 million. The analyst says that some of that increase is due to speculation that RIM will release the new handsets globally in February, instead of March as earlier thought. Thompson feels that the rest of the increase is due to the "positive sentiment" in the industry relating to the new OS and phones.
Alan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 15 Pro Max, he has seen smartphones evolve into a global phenomenon. Beyond smartphones, Alan has covered the emergence of tablets, smartwatches, and smart speakers.
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