UPDATE: Jefferies Upgrades Research In Motion to Hold

Jefferies & Company has published a research report on Research In Motion

and has upgraded the company from Underperform to Hold. In the report, Jefferies writes, "We believe a potential partnership will finally put a floor under the stock. Also, FY13 Street ests have fallen from ~$4 to ~$3.15 (JEF $2), and we believe investors will start discounting through the last couple rounds of est cuts to the launch of QNX (Blackberry OS 10) handsets in CQ3. We do not go to a Buy as there is still time before the QNX launch and near-term results will be pressured." Jefferies maintains its $13.50 price target on Research In Motion, which is currently trading up $1.30 form yesterday's $12.52 closing price.