UPDATE 1-BlackBerry maker wins vote of confidence ahead of BB10

Tue Nov 20, 2012 10:46am EST
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* Jefferies raises RIM rating to "hold" from "underperform"

* Jefferies analyst Misek doubles his price target on RIM

* Misek says carriers more positive on BB10 than he expected

* Upgrade pushes RIM shares briefly into double digits (Adds details, background, updates share price move)

By Euan Rocha

TORONTO, Nov 20 (Reuters) - Research In Motion Ltd, for months enveloped by a wave of negative sentiment, got a boost on Tuesday when one of its most influential critics raised his rating on the stock ahead of the launch of RIM's make-or-break new line of BlackBerry 10 devices.

The upgrade by Jefferies & Co analyst Peter Misek pushed RIM's share price into double digits for the first time in five months, with the stock up more than 3 percent at $10.04 in early trading on the Nasdaq.

Misek based his more optimistic view of the BB10 launch, set for Jan. 30, on a favorable reaction by telecom carriers to the devices and the new operating system that powers them.

"Preliminary results from our quarterly handset survey indicate developed market carriers have a much more positive view of BB10 than we expected," Misek said in a note to clients.   Continued...