Motorola ( MOT), the wheezing No. 5 mobile phone maker, is starting to win over analysts one at a time.

The latest shop to change its mind on Motorola was Oppenheimer, which raised its rating to buy from neutral and affixed a $5 price target on the stock Wednesday.

The firm is optimistic about the steep cost cuts and Motorola's retooled efforts to get a crop of new smartphones into the market later this year.

In January, Goldman Sachs put a buy rating on Motorola and a price target of $7 as the firm added the phone maker to its conviction buy list.

New handset chief and co-CEO Sanjay Jha has helped give Motorola a new narrower smartphone focus that could prove to be the make-or-break strategy for the former tech titan.

Jha has aligned Motorola with Google's ( GOOG) Android mobile phone operating system to produce mid-priced smartphones. The shift was seen as a blow to smartphone partner Microsoft ( MSFT) and its Windows Mobile softeware, which has already been struggling in this segment as Research In Motion ( RIMM) and Apple ( AAPL) make gains at its expense.

Motorola shares jumped 19 cents, or 5.8%, to $3.58 in recent trading.