Research in Motion Upgraded at at Credit Suisse (RIMM)

Smartphone maker Research In Motion Limited (RIMM) was upgraded by analysts at on Tuesday.

The analyst boosted its rating on RIMM shares to “Outperform” from a prior “Neutral” rating. Suisse also set a $95 price target on the shares, which closed on Monday at $73.06.

Suisse also raised the earnings estimates to reflect expected future growth in the smartphone market.

Research in Motion shares rose $2.30, or +3.2%, in morning trading Tuesday.

The Bottom Line
Shares of RIMM are off 52-week highs of $118 a share. The stock has technical support in the $65-$66 price area. If the stock can build some momentum on this morning’s call, we see overhead resistance around the $80 price level. We do not currently rate this non-dividend paying stock, but we do follow the company closely.

Research In Motion Limited (RIMM) does not currently pay a dividend.

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