Mike Abramsky from RBC Capital Markets raised RIM’s price target from $140 to $150, causing their stock to raise 2.8% to $115.34 as of close of market on Friday. The analyst also rated the stock as “Outperform.” This is a pretty big turnaround from January, where RIM’s stock was rated as “Hold” and had its price target lowered from $145 to $110. Since then their stock has trended upward, even survived the multiple outages in February. Their fourth quarter financial results should be very interesting when they’re announced on April 2nd.
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Bought RIMM a week ago to play with earnings. Lets see how it goes.