BlackBerry Stock Rating Lowered by CIBC (BB)
BlackBerry (TSE:BB) was downgraded by equities research analysts at CIBC from a “sector outperform” rating to a “speculative sector outperform” rating in a research note issued to investors on Tuesday, American Banking and Market News reports.
Shares of BlackBerry (TSE:BB) traded down 3.30% during mid-day trading on Tuesday, hitting $8.78. 3,798,758 shares of the company’s stock traded hands. BlackBerry has a 52 week low of $8.25 and a 52 week high of $12.59. The stock has a 50-day moving average of $10.71 and a 200-day moving average of $12.91. The company’s market cap is $4.602 billion.
A number of other firms have also recently commented on BB. Analysts at Canaccord Genuity upgraded shares of BlackBerry (TSE:BB) to a “hold” rating in a research note to investors on Tuesday. They now have a C$9.00 price target on the stock, up previously from C$8.00. Separately, analysts at Scotiabank cut their price target on shares of BlackBerry (TSE:BB) from C$13.20 to C$11.90 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Scotiabank cut their price target on shares of BlackBerry (TSE:BB) from C$13.20 to C$11.90 in a research note to investors on Monday. They now have a “sector outperform” rating on the stock.
Ten investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the stock. BlackBerry currently 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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