TORONTO (AP) — Shares of BlackBerry maker Research In Motion rose 3 percent Thursday with Wells Fargo saying that better gross margins from the company’s new phone will offset potentially limited demand.

THE SPARK: In a morning research note, analyst Maynard Um upgraded the shares to outperform. Um said the current valuation already discounts the potentially limited demand for RIM’s new BlackBerry phone that was unveiled last week.

Recommended Stories

Economy expanded at 3.4% rate in third quarter in sign of underlying strength

Israeli top election official orders Shin Bet to investigate allegations of foreign interference with Arab vote

From Faroes to Flanders: Washington’s case for engaging Europe’s pro-Western independence movements