The shares of Research In Motion Ltd (RIM) increased 6 per cent today after Jefferies & Co upgraded the company's stock.

Peter Misek, an analyst working with the Jefferies & Co upgraded the company's shares from "hold" to from "hold". The upgrade comes after it was reported that the company's new BlackBerry 10 operating system is better than its rivals. Misek said that the shares values are lower than the company's expected performance in the coming quarter.

He said that RIM's new device on January 30 would help improve the financial performance of the company. He increased the target price for shares from $13 to $19.50, giving a boost in investor interest in the shares of the smartphone maker.

"Recent tests and demos have shown a solid browser, smooth touch interface, and intuitive navigation. We now believe the operating system performance could be better than or equal to Android Jelly Bean and likely on par with iOS 6," said Misek

The shares of RIM increased 6 percent to $15.80 during the early morning trade on the Nasdaq. The company's shares on Toronto exchange increased 7 percent to C$15.72 at the time of reporting.