BlackBerry Upgraded to Hold at Canaccord Genuity (BB)
BlackBerry (TSE:BB) was upgraded by research analysts at Canaccord Genuity to a “hold” rating in a report released on Tuesday, Stock Ratings Network.com reports. The firm currently has a C$9.00 price target on the stock, up from their previous price target of C$8.00. Canaccord Genuity’s price objective suggests a potential upside of 2.51% from the stock’s previous close.
Shares of 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 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.
Other equities research analysts have also recently issued reports about the stock. 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 RBC Capital cut their price target on shares of BlackBerry (TSE:BB) from C$15.00 to C$5.00 in a research note to investors on Monday. They now have an “underperform” rating on the stock.
Ten investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the stock. BlackBerry has an average rating of “Hold” and a consensus price target 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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