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Telecomunicaciones y tecnología

RIM shares rise after analyst upgrade


    TORONTO (Reuters) - Shares of BlackBerry maker Research In Motion rose 4 percent on Friday after analysts at UBS Investment Research upgraded the stock and said the company stands to gain from the corporate side of its business once the economy rebounds.

    UBS analysts Maynard Um and Jeffrey Fan wrote that RIM faces little competition in the "enterprise" market -- made up of large corporations and government departments -- and even though this market is pressured today, it will be a source of strength for RIM when the economy firms up.

    "We recommend investors look to RIM ahead of the recovery," they wrote in a note to clients. "We are less concerned with gross margin as we believe we factor in pressures."

    They raised their rating on the stock to "buy" from "neutral" and hiked their price target to $90 from $65.

    RIM shares were up 4 percent to $72.30 on Nasdaq on Friday morning. On the Toronto Stock Exchange, the shares were up 3.8 percent to C$85.59.

    Um and Fan wrote that once big companies begin rehiring employees in 2010, they expect there will be continued and pent-up demand for Waterloo, Ontario-based RIM's BlackBerry smartphones.

    The handsets have become a staple of executives, lawyers, politicians and other professionals who use them to send wireless e-mail securely.

    ($1=$1.18 Canadian)

    (Reporting by Wojtek Dabrowski; editing by Rob Wilson)