Wednesday, February 16, 2011

RIM Rises 4.2% On Citigroup Upgrade

Shares of RIM rose 4.2% today to close at C$67.25 in Toronto.  The sharp rise came after Citigroup analyst Jim Suva upgraded the shares from to Buy from Sell.  He cited Nokia's transition period to using the Windows Phone 7 operating system, during which time carriers will shift their advertising to companies such as RIM.  RIM can gain market share particularly in Europe.

On Friday, I talked about how Nokia's transition period can benefit RIM:

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