Research In Motion Unveils BlackBerry Bold Series; Stock Shoots Up

Shares of Research In Motion Ltd. (RIMM) shot up on Monday after the company unveiled its BlackBerry Bold 3G 9000 series device, which came as a surprise to many who were expecting a release later in the year.

Bold’s specifications, which include 3G data transfer, WiFi connectivity, a faster processor and better browsing experience, which includes the capability to talk and surf at the same, an enhanced 480x320 display, a 2 megapixel camera and integrated GPS, should appeal to both business a consumer users, Citigroup analyst Jim Suva told clients, adding that it could boost the company’s quarterly shipments by 200,000 to 400,000.

The Bold will be available with international carriers this summer and AT&T (T) is expected to be the first U.S. carrier to offer it. Meanwhile, Citigroup’s sources indicate that the BlackBerry Curve is now available online at Verizon Wireless (VZ) and Sprint (S), and will be available in their stores this week. This presents yet another positive for RIM as it comes ahead of expectations for late in May.

Mr. Suva rates RIM shares a “buy” with a $140 price target.

While no pricing or carriers were announced, Bold is reportedly to sell at AT&T for $300 to $400, UBS analyst Jeffrey Fan told clients. He also expects a launch outside the U.S. will likely come first.

Mr. Fan left his "buy" rating and $165 price target unchanged.