BlackBerry Given New $12.00 Price Target at RBC Capital (BBRY)
Research analysts at RBC Capital upped their price target on shares of BlackBerry (NASDAQ:BBRY) from $11.00 to $12.00 in a report released on Friday. The firm currently has a “sector perform” rating on the stock. RBC Capital’s target price indicates a potential upside of 32.01% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of BlackBerry to $8.00 in a research note on Thursday. Separately, analysts at BGC Financial upgraded shares of BlackBerry from a “sell” rating to a “buy” rating in a research note on Wednesday. They now have a $15.00 price target on the stock, up previously from $8.00. Finally, analysts at Morgan Stanley initiated coverage on shares of BlackBerry in a research note on Wednesday. They set an “equal weight” rating on the stock. Eleven investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $8.86.
BlackBerry (NASDAQ:BBRY) traded up 0.44% during mid-day trading on Friday, hitting $9.13. The stock had a trading volume of 8,297,960 shares. BlackBerry has a one year low of $5.44 and a one year high of $15.09. The stock’s 50-day moving average is $7.64 and its 200-day moving average is $8.22. The company’s market cap is $4.737 billion.
BlackBerry (NASDAQ:BBRY) last released its earnings data on Thursday, June 19th. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.63 by $0.74. The company had revenue of $966.00 million for the quarter, compared to the consensus estimate of $976.25 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was down 68.5% on a year-over-year basis. On average, analysts predict that BlackBerry will post $-0.91 earnings per share for the current fiscal year.
BlackBerry Limited, formerly Research In Motion Limited is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
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