Market Overview

UPDATE: Morgan Stanley Upgrades BlackBerry to Overweight; Mix Shift to BB10 to Boost Margins, ASP

Share:
Related BBRY
BlackBerry Falls 2% As Company Confirms Job Cuts
Benzinga's Top Initiations

Morgan Stanley upgraded BlackBerry (NASDAQ: BBRY) from Underweight to Overweight and raised the price target from $10.00 to $22.00.

Morgan Stanley analyst Ehud Gelblum commented, "We are upgrading BBRY to OW from UW on the thesis that the mix-shift of devices away from BB6/7 and to BB10 expands GM and ASP, even after assuming a lower service attach rate on BB10 and very unheroic assumptions on numbers. Raising ests above the Street and PT to $22 from $10."

BlackBerry closed at $15.03 on Tuesday.

Latest Ratings for BBRY

DateFirmActionFromTo
Feb 2016TD SecuritiesInitiates Coverage onBuy
Jan 2016ScotiaAssumesSector Perform
Dec 2015JP MorganInitiates Coverage onNeutral

View More Analyst Ratings for BBRY
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Upgrades Analyst Ratings

 

Related Articles (BBRY)

View Comments and Join the Discussion!

Get Benzinga's Newsletters