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.
Latest Ratings for BBRY
|Feb 2016||TD Securities||Initiates Coverage on||Buy|
|Jan 2016||Scotia||Assumes||Sector Perform|
|Dec 2015||JP Morgan||Initiates Coverage on||Neutral|
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