- Analysts weight in after BlackBerry’s (NASDAQ:BBRY) Q2 beats yesterday.
- Canaccord Genuity has BlackBerry at a Hold with $10 price target.
- Analyst Michael Walkley says the company’s $1.9B in net cash can provide growth capital through hiring and acquisitions. He expects steady growth in all units but potential acquisitions are the most likely path to the material upside.
- Raymond James puts BlackBerry at Market Perform and a $11 price target awaiting a more balanced risk-reward profile.
- Analyst Steven Li notes that enterprise and QNX auto software have growth potential but both were flat on the year this quarter.
- MKM Partners’ Michael Genovese calls the stock expensive based on the company’s FY18 guidance and the analyst’s FY19 outlook.
- Sees tailwinds in connected cars, IoT, and cyber security but revenue ramp could take at least two years.
- Genovese rates the company Neutral with a $10 price target.
- Source: Bloomberg First Word
- BlackBerry shares are up 5.73%.
- Previously: BlackBerry up 8% after Q2 beats and positive guidance (Sept. 28)
- Previously: BlackBerry and Tokyo Electron Device sign software agreement (Sept. 29)
- Now read: BlackBerry Ltd. 2017 Q2 - Results - Earnings Call Slides
Original article