Shares of RIM surged Tuesday after Jefferies upgraded it to a buy with an $80 price target.
Analyst Peter Misek made the somewhat unexpected call on the belief that the Street is underestimating the power and appeal of BlackBerry’s new QNX operating system.
Here’s what he likes:
- positive web browser experience
- can run on low-end or high-end devices
- makes it easy for outside software developers to adapt programs made for other gadgets.
- more secure than Android and iPhone
- requires less bandwith than OS used by iPhone.
What's the trade?
Looking at the technicals, I don't see the stock hitting resistance until $70, says Steve Grasso.