Big pop coming soon...RBC on the short bandwagon...lol 10:04 AM EDT, 09/23/2022 (MT Newswires) -- RBC Capital Markets said Friday that it expects BlackBerry Ltd. (BB.TO) to book a 4% year-on-year decline in revenue to $169 million during its fiscal second quarter, which would be the eighth consecutive quarter of revenue contraction for the company.
RBC said positive revenue growth is not expected for BlackBerry at least until the fourth quarter, given the timing of new Cybersecurity sales initiatives.
According to RBC, sentiment on BlackBerry's stock will likely remain low due to sustained auto industry production challenges and the uncertainty regarding the sale of the company's patents.
RBC maintained BlackBerry's sector perform rating and US$6.50 price target, reflecting the company's near-term fundamentals, opportunities and potential risks.