Raymond James analyst Steven Li lowered the firm’s price target on BlackBerry to $4.75 from $5.50 and keeps a Market Perform rating on the shares post the Q1 report. The company reported a solid start to the fiscal year with both cyber and internet of things outperforming expectations, despite a challenging macro environment, the analyst tells investors in a research note. The analyst says BlackBerry continues to streamline with additional cost optimizing actions and expects to turn positive operating cash flow in Q4.
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