BlackBerry Ltd (BBRY) Price Target Raised By AnalystsSomeone get Uncle Highliner (aka Nutbar) his Meds please. He's long overdue...lol.
BlackBerry Ltd (BBRY) Price Target Raised By Analysts
By Aman Jain
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) Neutral rating has been reaffirmed by Deutsche Bank analysts in a note issued on Monday. Analysts have, also, raised the price target on the stock from $8.00 to $9. Another research firm, TD Securities raised the price target on the Canadian firm (RIMM) from C$10.50 to C$12.00 in a research note released on Monday. The research firm has a Hold rating on the firm.
Cash position safe for BlackBerry
BMO analysts in a report dated Sept. 28 noted that better hardware margin and efforts to lower the operating expenditure helped BlackBerry to post stronger-than-expected earnings. Analysts, however, are concerned over the declining service revenues, which they feel could impact the company’s overall results.
BMO analysts believe that the company’s hardware business is on right track, and it is still too early to gauge the performance of the recently unveiled smartphones. Analysts expect hardware sales to remain flat over the next year suggesting an improvement from the recent declines. Though the hardware margins improved for BlackBerry, analysts feels that going forward there is not much room for further improvement. BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s cash position is viewed as “safe” by the analysts. BMO analysts have raised the price target on the Canadian firm from $9 per share to $10 a share, and have a Market Perform rating.
Many analysts have given their verdict on BlackBerry in last few months. BGC Financial analysts, in a note on September 25th, lowered the rating from Buy to a Hold. In a research note on September 23rd, analysts at Cormark lowered the rating of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) from Buy to aMarket Perform with a price target of $11.50. Presently, the company has an average rating of Hold and a consensus price target of $8.74.
Ratings from other analysts
For the latest quarter, the Canadian firm posted a loss of 2 cents per share on sales of $916 million. Analysts expected an adjusted loss of 15 cents on revenues of $951 million. On GAAP basis, the loss was 39 cents per share while in the same quarter last year the net loss was $1.84 per share on sales of $1.57 billion
https://www.opptrends.com/2014/10/blackberry-ltd-bbry-price-target-raised-by-analysts/