Jefferies (JEF) upgraded Research in Motion (RIMM) from hold to buy today.
Jefferies said that the Blackberry makerís new QNX operating system may be up and running on the companyís devices sooner than expected. The operating system was designed for the PlayBook tablet computer, but will likely be sued for other devices.
RIMMís handset sales look to be around the high end of its forecasts, Jefferies said.
Jefferies hikes it price target on RIM from $50 per share to $80 per share.
Research in Motion shares are trading up 4.5% Tuesday.
At 10.78% of the portfolio, Research in Motion is the third-largest holding of the Wireless HOLDRS (WMH) fund.
Crown Castle International (NYSE:CCI) is the top stock in the fund, at 34.05%, followed by Qualcomm (NASDAQ:QCOM), at 18.83%.
Verizon Communications (VZ) and Vodafone (VOD) are 8.32% and 7.24% of the fund, respectively.
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