| | 11-26-2012, 12:35 PM Thread Author #1
RIM's stock target price raised to $17
Price keeps going up! Interesting read.
RIM stock: CIBC gives big vote of confidence ahead of BB10 launch | Trading Desk | Investing | Financial Post
Research In Motion Ltd. was upgraded by CIBC World Markets on Monday, after an analyst with the investment bank called RIM’s stock “materially undervalued.”
Todd Coupland, a tech analyst with CIBC, increased his rating on RIM to sector outperformer from his previous rating of sector underperformer.
The big upgrade also came with a sizable price target hike. Mr. Coupland said he now forecasts RIM’s stock to hit US$17 in 12 months, from his previous target of US$8.
“Regardless of market share upside, it is our view that RIM is now in a good position to successfully stabilize its base, which will help repair its brand reputation and push shipments higher on a year over year basis off a low base,” he said.