BlackBerry Price Target Lowered to C$10.50 at Paradigm Capital (BB)
Equities research analysts at Paradigm Capital decreased their price target on shares of BlackBerry (TSE:BB) from C$15.00 to C$10.50 in a research note issued to investors on Tuesday, AnalystRatings.Net reports. The firm currently has a “hold” rating on the stock. Paradigm Capital’s target price would suggest a potential upside of 19.59% from the stock’s previous close.
BlackBerry (TSE:BB) traded down 3.30% on Tuesday, hitting $8.78. 3,798,758 shares of the company’s stock traded hands. BlackBerry has a 1-year low of $8.25 and a 1-year high of $12.59. The stock’s 50-day moving average is $10.71 and its 200-day moving average is $12.91. The company’s market cap is $4.602 billion.
A number of other firms have also recently commented on BB. Analysts at National Bank Financial raised their price target on shares of BlackBerry (TSE:BB) from C$5.00 to C$9.00 in a research note to investors on Tuesday. They now have a “sector perform” rating on the stock. Separately, analysts at Cowen and Company upgraded shares of BlackBerry (TSE:BB) from an “underperform” rating to a “market perform” rating in a research note to investors on Tuesday. Finally, analysts at CIBC downgraded shares of BlackBerry (TSE:BB) from a “sector outperform” rating to a “speculative sector outperform” rating in a research note to investors on Tuesday.
Ten investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of C$8.87.
BlackBerry, formerly Research In Motion Limited, is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
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