CIBC upgraded BlackBerry to Outperformer from Neutral with a $3.50 price target. The analyst cites the company’s improved business plan execution, stronger than forecast fiscal Q1 results, and “conservative but achievable” Q2 and 2025 guides for the upgrade. These factors support a favorable risk/reward at the current price, the analyst tells investors in a research note. The firm believes BlackBerry’s progress towards better growth and positive EBITDA open options, including a possible divestiture of its Cyber unit.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BB:
- BlackBerry Exceeds Q1 Expectations, Eyes Profitability
- BlackBerry Reports First Quarter Fiscal Year 2025 Results
- Options Volatility and Implied Earnings Moves Today, June 26, 2024
- New BlackBerry (TSE:BB) Report Shows Steep Rise in Cyber Attacks
- Options Volatility and Implied Earnings Moves This Week, June 24 – June 27, 2024