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November 5, 2009, 12:02 PM ET

RIMM: S&P Turns Bullish;

By Eric Savitz
Standard & Poor’s equity telecom analyst James Moorman this morning raised his rating on Research In Motion (RIMM) to Buy from Hold, while keeping his $87 price target. He notes that the BlackBerry company’s shares are down about 30% since it reported August quarter results.

“While we believe this holiday selling season will be competitive, we think RIMM has an attractive portfolio including the Storm II that should allow it to see continued solid demand,” he writes. “While we are concerned about RIMM’s sacrifice of ASPs to move volume, we believe the share price is attractive at these levels.”