Research in Motion received some good news Friday (finally) as at least one analyst upgraded their stock due to the company's recently released BlackBerry 7 devices. According to BGR, Sterne Agee analyst Shaw Wu upgraded his rating from Neutral to Buy, increasing his target price to $35.
Wu sees near-term opportunity in RIM, and he thinks new BlackBerry handsets like the Bold 9900 will be well received. ”The key differences this time include a refined user interface and improved hardware including faster processors, better graphics and displays as well as better build quality with its greater use of premium materials,” Wu wrote on Friday. “The company recently launched the new Bold 9900 and Torch 9810 and we see the upcoming launch of the full touchscreen Torch and new lower-end Curve in upcoming 1-2 quarters as future catalysts. RIMM has undoubtedly lost some customers but for loyalists still using 2-3 year old models, these refined updates are a worthy upgrade.”