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Research In Motion Limited (NASDAQ:RIMM) Extends Rally On $43 PT By Peter Misek


Jeffco analyst Peter Misek, who is a well-regarded telecom analyst, has upgraded Research In Motion Limited (USA)(NASDAQ:RIMM) to Hold from Underperform. This is a sharp departure from his earlier bearish stance.
He has set a price target of $43 for the stock in the next 12 months. He has based his view on the fact that BB10 has a much better perception in the market than the previous versions of the operating platform.
Will RIMM continue To Move Higher? Find Out Here
According to Misek, BB10 has a 20-30 percent probability of success.
The delay in the launch of BB10 was one of the main factors against the company. Carriers have long been looking for an alternative to dominance by Android and iOS. Microsoft's Windows Phone 8 is as yet too new to fill that slot. They are relying on BB10 to be in that position.
While the new operating system is believed to be a vast improvement over BB7, developers still think it will not match up to the quality of iOS 6 or even Android.
Recently, Blackberry handsets maker Research in Motion is set to release the latest version of its new operating software in December, while platform will be officially launched in January.
The release next month will enable developer to carry out the final testing of the product before it goes live. The expected release date of the kit is December 11, Biz Journals reported.
Canada's RIM has rapidly lost market share in the smartphone segment, especially among corporates where it once had undisputed sway.
Apple, Android have surpassed it long back while Microsoft is now bidding to rival it as well.
In anticipation of the release of the new system several brokerage houses are upgrading the stock.
Shares of RIMM are up 4% in pre-open session, extending its one-week gain to about 15%.