- TD raises BlackBerry (NASDAQ:BBRY) from $10 to $11.50 with a Buy rating on beliefs that 2H has potentials to offset last week’s software revenue miss.
- Analyst Daniel Chan says the software focus overlooks strong traction and billings in Radar and company management’s confidence about closing some IP license deals before year’s end.
- Chen points out that BlackBerry has $1.9B in net cash and enough balance sheet flexibility to capitalize growth through strategic investments.
- Meanwhile, Deutsche Bank (DE:DBKGn) bumps BlackBerry’s price target up fifty cents to $7.50 with a Hold rating.
- Analyst Vijay Bhagavath expresses caution on the company’s ability to beat full-year consensus estimates for FY18 and FY19 because of FCF pressure from revenue recognition timing, customer growth sustainability, and ongoing investments in the software transition.
- Source: Bloomberg
- BlackBerry shares are up 3.96%.
- Now read: Why BlackBerry Shares Took A Nosedive
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