Citigroup raises Moto to 'buy'; downgrades RIM

Motorola Inc. shares were raised to "buy" from "hold" by analysts at Citigroup Inc., who said the company will introduce a "compelling" offer of handsets at a "time when many investors have given up."

The analysts reduced their recommendations on Palm Inc. and Research In Motion Ltd. to "sell," from "hold" and "buy" respectively. The changes came in a report to investors dated Nov. 1.

Motorola is based in Schaumburg, with operations in Libertyville and Arlington Heights. RIM has operations in Rolling Meadows.