Research In Motion gets a Break, Upgraded to Outperform

RBC Capital upgraded Research in Motion (NASDAQ:RIMM) from Sector Perform to Outperform yet RIMM shares are unchanged for the moment, trading at $50.

RBC also raised its price target on RIMM shares from $45 to $75 and they expects RIM's performance to exceed lowered expectations.

In its upgrade, RBC cited improving margin visibility and recovering execution. The firm also sees a multiple recovery following a 69% decline in the stock since June of 2008, which compares to a drop of 28% for peers and a 38% drop in the NASDAQ.

Research in Motion, like other Tech Stocks has taken a beating in recent months losing more than 1/2 its market cap in the last 6 months. However RIMM shares have made a decent 20% comeback since hitting $38 last month. RBC's upgrade is worth noting at a time like this, best of luck investing.