RBC Capital raised the firm’s price target on BlackBerry (BB) to $4 from $3.25 and keeps a Sector Perform rating on the shares after meeting with its management team at CES. Following the sale of Cylance, the firm believes that investor sentiment in BlackBerry’s shares may rise, given QNX’s improving fundamentals, higher investor visibility to QNX, and a potential divestiture of BlackBerry’s Secure Communications unit, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BB:
- QNX, Vector, TTTech partner for foundational vehicle software platform
- QNX collaborates with MicroSoft for software-defined vehicle innovations
- QNX doubles down on developer support to fuel embedded software innovation
- QNX launches QNX Cabin framework
- BlackBerry shares rise after unveiling relaunch of QNX brand