BlackBerry Rating Increased to Neutral at Macquarie (BB)
BlackBerry (TSE:BB) was upgraded by stock analysts at Macquarie from an “underperform” rating to a “neutral” rating in a report issued on Monday, AnalystRatings.NET reports.
Shares of BlackBerry (TSE:BB) traded up 4.06% during mid-day trading on Monday, hitting $8.20. The stock had a trading volume of 2,143,308 shares. BlackBerry has a 52 week low of $7.75 and a 52 week high of $12.59. The stock’s 50-day moving average is $10.51 and its 200-day moving average is $13.07. The company’s market cap is $4.220 billion.
BlackBerry (TSE:BB) last posted its quarterly earnings results on Friday, September 27th. The company reported ($1.84) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.49) by $1.35. During the same quarter in the previous year, the company posted ($0.27) earnings per share. Analysts expect that BlackBerry will post $-1.25 EPS for the current fiscal year.
A number of other firms have also recently commented on BB. Analysts at Citigroup Inc. upgraded shares of BlackBerry from a “sell” rating to a “neutral” rating in a research note to investors on Thursday. Separately, analysts at Sanford C. Bernstein downgraded shares of BlackBerry 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. Finally, analysts at Scotiabank cut their price target on shares of BlackBerry 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. Nine investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of C$8.71.
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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