UPDATE: Morgan Stanley Upgrades BlackBerry to Overweight; Mix Shift to BB10 to Boost Margins, ASP
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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.