Scotia Capital upgrades to Outperform, new Price target raised to $23
Research in Motion upgraded to Outperform from Sector Perform at Scotia Capital
Scotia Capital upgraded Research in Motion following reviews of the BB10 on various blogs. The firm said reviews indicate the BB10 has a faster browser and superior screen resolution vs. the iPhone 5 and the ability to multi-task. Scotia expects even modest success of the BB10 will result in significant earnings momentum and upgraded shares to Outperform with a price target of $23 raised from $18.60.