BlackBerry price target lowered to $5.37 from $5.50 at Canaccord

Canaccord lowered the firm’s price target on BlackBerry to $5.37 from $5.50 and keeps a Hold rating on the shares. BlackBerry’s Q1 revenue was well above the firm’s estimate, but upside was was due to the patent sale during the quarter resulting in $218M of licensing revenue not included in the estimates, the analyst tells investors in a research note.