Société Générale SA has upgraded the shares of smartphone maker, BlackBerry from 'sell' to 'buy' after observing that the new models form the smartphone masker is selling well in the market.

The company selling Z10, that comes with a touch-screen and the Q10, which has traditional BlackBerry physical keyboard. The financial giant expects BlackBerryto sell more than 4 million units of Z10 during the first quarter of the financial year compared to 1 million sold in the previous quarter. On the other hand, the company could sell about 1 million units of Q10during the period.

"Our base case scenario now assumes that the new handset sales have been faster than we previously assumed," wrote Andy Perkins, analyst at Société Générale.

The shares of Canada based company rose about 6.3 per cent to $14.42 at the close in New York, recording its highest gain since 20 March, 2013. The shares of the company have risen 21 per cent this year. The company is looking to revive its sales after it lost its market share in the global smartphone market to Apple Inc.'s iPhone and Samsung Electronics Co.'s Galaxy devices.

The company is expected to announce its results on 28 June, 2013.