According to Wireless Weekly, Lehman Brothers' analysts today raised their rating of Research In Motion, causing shares to rise (at one point up 8 percent to $19.92. The analysts say their outlook on RIM began to improve in late 2002 as several carriers, including Nextel Communications, AT&T Wireless and T-Mobile USA rolled out BlackBerry service.
RIM's management has recently stated that their subscriber base, now at 534,000, could reach 1 million over the next year, according to the Lehman report. Lehman's price target is now $22.
All of this is good news for RIM who has been in a legal battle with rival Good Technologies. Good recently hooked up with Dell to deploy their technology through one of the largest computer manufacturers.
