Correction: Jefferies " RIMM To Climb to $56 In Coming Month" ///link
RIM jumps on report BlackBerry email will be allowed on iPhone and Android
Jonathan Ratner | Jan 18, 2013 8:05 AM ET | Last Updated: Jan 18, 2013 4:30 PM ET
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Research In Motion Ltd. closed up 6.2%, or US93¢, at US$15.84 on Friday after Jefferies analyst Peter Misek upgraded the stock to buy from hold and raised his price target to US$19.50 from US$13.00.
Mr. Misek told clients RIM will enable corporate BlackBerry email on iPhones and Android devices.
“This change we believe is unknown or not well understood but is important,” he said in a research note. “In the future we think RIM will add bring-your-own-device sandboxing and BlackBerry Messenger (BBM) on Android and iOS.”
Mr. Misek now sees the probability of success for BB10 closer to the upper end of his 20-30% range. In this scenario, he thinks the stock could climb to US$56 in the next 12 months.