Blackberry a Buy at these prices
Post says fund manager likes BlackBerry at $10
2014-08-13 07:10 ET - In the News
The Financial Post reports in its Wednesday edition Bruce Campbell at StoneCastle Investment Management says buy BlackBerry ($10.29). The Post's Jonathan Ratner, writing in Buy & Sell, says Mr. Campbell bought his BlackBerry position recently. He looks for earnings growth, positive earnings revisions and price momentum, and BlackBerry fits the bill. "Most people don't realize the company has surprised to the upside on earnings in three of the past four quarters," he said. "We're also starting to see positive earnings revisions as CEO John Chen has started to turn some things around and take a company that was pretty much left for dead forward." Mr. Campbell figures the biggest challenge facing the company is competition from Apple and IBM's enterprise joint venture. Over all, Mr. Campbell is staying on the offensive, despite his belief the market is due for some sort of correction. He sees a pullback coming in the next three months. The fund, up 53.72 per cent last year, ranks first in Morningstar's Canadian equity category over one year. Mr. Campbell's analysis of the relative relationship between Canadian and the U.S. indexes continues to give him comfort in Toronto Stock Exchange companies.
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