BlackBerry Rating Increased to Neutral at Citigroup Inc. (BB)
BlackBerry (TSE:BB) was upgraded by investment analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating in a note issued to investors on Thursday, ARN reports.
BB has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein downgraded shares of BlackBerry (TSE:BB) from a “market perform” rating to an “underperform” rating in a research note to investors on Thursday. They now have a C$4.35 price target on the stock, down previously from C$6.76. Separately, analysts at Scotiabank cut their price target on shares of BlackBerry (TSE:BB) from C$11.90 to C$10.60 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Ten equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of C$8.72.
Shares of BlackBerry (TSE:BB) traded down 3.63% on Thursday, hitting $7.97. 2,516,574 shares of the company’s stock traded hands. BlackBerry has a 52-week low of $7.99 and a 52-week high of $12.59. The stock has a 50-day moving average of $10.51 and a 200-day moving average of $13.07. The company’s market cap is $4.180 billion.
BlackBerry (TSE:BB) last posted its quarterly earnings results on Friday, September 27th. The company reported ($1.84) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.49) by $1.35. During the same quarter last year, the company posted ($0.27) earnings per share. On average, analysts predict that BlackBerry will post $-1.08 earnings per share for the current fiscal year.
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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