RIM GETS A BIG BOUNCE

Nov 22, 2012

By Michael Kramer

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Shares in Research In Motion surged more than 17 per cent, continuing positive momentum after a National Bank Financial analyst said he was increasing his price target for the BlackBerry maker.

Analyst Kris Thompson said he’s boosting his target to 15 dollars U-S per share from 12 dollars.

RIM closed up $1.77 to 12 dollars on the T-S-X, its highest level since early May.

Thompson noted that RIM’s new management team is maintaining the BlackBerry smartphone subscriber base, managing costs and cash. And it is seemingly readying a February 2013 B-B-10 global product release, a month earlier than expected.

Still, the stock is a long way off its 52-week high of $19.06.

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