RBC Capital raised the firm’s price target on BlackBerry (BB) to $3.25 from $3 but keeps a Sector Perform rating on the shares. The company’s sale of Cylance comes at a higher than expected takeout price and eliminates a major overhang on BlackBerry’s shares, though even without Cylance, BlackBerry is still seeing relatively slow growth given its Secure Communications business and the soft auto market for BlackBerry’s IoT segment, the analyst tells investors in a research note.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BB:
- Blackberry (BB) Q3 Earnings Cheat Sheet
- Unusually active option classes on open December 16th
- Arctic Wolf to acquire BlackBerry’s Cylance assets for $160M
- Options Volatility and Implied Earnings Moves This Week, December 16 – December 20, 2024
- Unusually active option classes on open December 10th
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.