Research In Motion Limited (USA)(NASDAQ:RIMM) shares are up another 12% in the pre-open session after gaining about 35% in the past couple of weeks.
This morning, analyst at Goldman Sachs upgraded the stock to "buy." The brokerage firm lifted the price target by $7 to $16.
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The firm noted that "We expect RIM's results will exceed Street estimates over the next four quarters," analysts said. Goldman analysts said the Jan. 30 launch of the new BlackBerry 10 may offer a positive risk/reward. "We now assess a 30% chance of success for BB10 given positive early reviews, broad-based carrier support, attractive features and interest by carriers and consumers in broadening the field beyond Android/iOS," analysts said.
Last week, the stock was up 35% analyst at National Bank lifted its price estimate of its shares while maintaining its Outperform rating on the stock.
In other news, Nokia’s agreement dispute with Research In Motion has gone in all the wrong ways possible. A Swedish arbitrator overseeing the couple’s spat over a license for standards-essential patents of Nokia that RIM is not supposed to sell devices with the help of the Wi-Fi technologies of the Finnish company until it pays royalties on them.
The row between the two companies entails a 2003 licensing contract that approved RIM of using some of the standards-essential patents of Nokia. The BlackBerry manufacturer assumed that Wi-Fi patents of Nokia were included in that agreement, reasoning that they must be a part of any contract associated to standards-essential patents. However, in Nokia’s opinion, they were certainly not. The two companies started fighting over the issue. A year back, they had gone into arbitration. Now, the tribunal has heard their arguments and has come to the conclusion that Nokia’s Wi-Fi patents were not under the 2003 contract.
This is a huge deal since RIM is already selling a group of hardware that uses the patents and it has been doing so since years. Nokia has filed lawsuits in Britain, Canada and the US to implement the ruling of the arbitrator.