Canada's main stock market, the Toronto Stock Exchange (
) closed up 53 points Thursday, buoyed by strong renewed buying of
Research In Motion Ltd (RIM.TO) on positive analyst research. But
it was a day of pretty thin trading volumes and little real
direction given the U.S. stock markets were closed for the
Investors and traders may well have decided to make a long
weekend of it and many of them could sit out tomorrow too given the
U.S. markets will only operate for half a day then.
Easily most active was RIM, which gained more than 17% with
around 12.5 million shares traded. This came after National Bank
Financial said RIM shares should be bought ahead of the launch of
BlackBerry 10, which is slated for the first quarter of 2013. "We
think there is more money to be made ahead of the C2013 launch of
BB10. 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." National
Bank increased its price target on RIM to US$15 from US$12, and
also raised its shipment and 2014 earnings forecasts.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.