Research in Motion’s share price saw a jump of 17.3 % in the Toronto Stock Exchange yesterday, an increase that has been attributed to increased optimism over the launch of BlackBerry 10.
National Bank analyst Kris Thompson seems to be instrumental in the surge in share price after he became the second analyst this week to raise price targets for the company’s stock.
“The new management team is executing by maintaining the BlackBerry subscriber base, managing costs and cash, and seemingly readying a February 2013 BB10 global platform launch” said Thompson in a note to clients, mentioning that there is “positive sentiment” surrounding the upcoming launch.
The increase puts RIM’s share price at the highest level that it has seen since May this year. When RIM’s gains were occurring in the Canadian stock market, the American market was closed for the Thanksgiving holiday.