Cowen and Company Upgrades BlackBerry to “Market Perform” (BB)
BlackBerry (TSE:BB) was upgraded by research analysts at Cowen and Company from an “underperform” rating to a “market perform” rating in a report released on Tuesday, StockRatingsNetwork.com reports.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. 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 Tuesday. They now have an “outperform” rating on the stock.
Ten equities research 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. The company currently has a consensus rating of “Hold” and a consensus target price of C$8.87.
BlackBerry (TSE:BB) traded down 3.30% during mid-day trading on Tuesday, hitting $8.78. The stock had a trading volume of 3,798,758 shares. 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.
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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