According to a report on the windsorstar, BMO Capital Markets has raised their price target for BlackBerry maker Research In Motion shares.

BMO Capital Markets say that strong mobile phone shipments along with lower operating expenses at Research In Motion is the reason.

BMO Capital Markets analyst, Keith Bachman, raised his price target on RIM stock from $72 up to $82, and said mid range along with high end products in various price points will keep shipment strong, along with keeping gross margins more balanced. So some good news for Research In Motion then.