Shares of Research in Motion are up 77 cents, or 6%, at $13.29, and were up 11% earlier, following a report last night by Reuters’s Nadia Damouni that the company had been the target of takeover efforts, however slight, this summer by Amazon.com , and others, though RIM spurned those offers, preferring to focus on their own turn-around efforts.
A piece in this morning’s Wall Street Journal by Will Connors, Joann Lublin, and Anupreeta Das extends that idea with remarks about Nokia and,Microsoft having in “recent months” considered buying RIMM. Both pieces are anonymously sourced.
In response to that, in part, ThinkEquity’s Mark McKechnie this morning raised his rating on the shares to Buy from Hold, writing that the current price undervalue’s the company’s $5 billion worth of patents, $3 in cash per share, and its BlackBerry messaging service.
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