The Associated Press November 30, 2010, 7:51AM ET

Ahead of the Bell: RIM shares climb after upgrade

Shares of BlackBerry maker Research in Motion Ltd. climbed ahead of regular trading Tuesday after a Jefferies & Co. analyst upgraded the stock, giving high marks to the company's new mobile software.

Jefferies analyst Peter Misek said his checks show the new operating system has a good Web browser, can run on low-end or high-end devices and makes it easy for outside software developers to adapt programs made for other gadgets.

Misek added that RIM is still seeing growth in its international business that should carry the company until new phones based on the software update start shipping.

And despite competition from Apple Inc.'s iPhone and handsets that run Google Inc.'s Android software, he said his checks show market share loss among business customers is not happening as quickly as feared.

Misek upgraded the company to "Buy" from "Hold" and raised his price target to $80 from $55.

RIM shares rose $1.16, or 2 percent, to $60.15 in pre-market trading.


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