BlackBerry price target lowered to $3 from $3.50 at Baird

Baird analyst Luke Junk lowered the firm’s price target on BlackBerry to $3 from $3.50 and keeps a Neutral rating on the shares. The company reported upside to Q1 estimates and the Q2 guidance bracketed expectations while the prior fiscal 2025 guidance was maintained, the analyst tells investors in a research note. The firm says highlights included incremental progress on BlackBerry’s cost savings and its business separation roadmap. It is encouraged by the incremental corporate actions and sees “glass half-full elements” to the company’s internet of things outlook, but remains patient.