RBC Capital lowered the firm’s price target on BlackBerry to $3 from $4 and keeps a Sector Perform rating on the shares. The company’s plan to achieve $150M in net profit improvement reflects the right-sizing of the company and represents a shift towards a more sustainable and nimble operating structure, though investor sentiment is likely to remain low, considering the magnitude of historical revenue declines and lack of profitability at Cybersecurity, the analyst tells investors in a research note.
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