Analysts’ raise RIM stock rating ahead of BlackBerry 10 release date
After months of negative press RIM is finally back in some analysts’ good books ahead of the launch of its BlackBerry 10 update
RIM’s stock, once a faltering mess powered by uncertainty, has risen by three per cent ahead of the launch of the company’s BlackBerry 10 platform.
Now valued at $10.04 a share, RIM’s stock value is now running on a five-month high after months of uncertainty about the company’s future.
Jefferies & Co analyst Peter Misek, once an ardent critic of the company, has seemingly changed his tune after seeing positive feedback from networks regarding BlackBerry 10 and the hardware it powers.
‘Preliminary results from our quarterly handset survey indicate developed market carriers have a much more positive view of BB10 than we expected,’ said Misek in a note to investors.
RIM CEO Thorsten Heins has been on something of a BlackBerry 10-themed marketing bender of late, championing the upcoming platform, owning up to the company’s previous failings, and even stating that a BlackBerry 10-powered handset could one day replace your laptop.
‘With greater carrier shelf space and marketing support, we now believe BB10 has a 20 per cent to 30 per cent probability of success,’ added Misek.
RIM will do battle with Microsoft’s Windows Phone 8 throughout 2013 in order to obtain the all important third spot behind Android and iOS.
Not all analysts’ share Misek’s reformed opinion, however, with Pacific Crest’s James Faucette stating that BlackBerry 10, regardless of its quality, stands no chance of righting RIM’s downward trajectory.
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