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RIM Shares Rise on Ratings Hike

News - By: pdaBlast! Staff - May 23, 2003

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.




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