Raymond James Reiterates Market Perform Rating on BlackBerry Following 10-Q Filing
In a report published Wednesday, Raymond James analyst Steven Li reiterated a Market Perform rating on BlackBerry Ltd. (NASDAQ: BBRY).
In the report, Raymond James noted, “Last night BBRY filed their 10-Q to provide more details on its F2Q14. The Fairfax consortium has offered an LOI to take BBRY private at $9/share. Shareholders no doubt are disappointed with the lack of a price premium. However, BBRY is quickly running out of options especially following the disastrous F2Q14 results. We note the Board (who has significantly more information than we do about the state of affairs at BBRY) has approved the $9 offer. Fairfax is expected to complete its due diligence by November 4. We are not expecting a higher offer and maintain our Market Perform rating.”
BlackBerry Ltd. closed on Tuesday at $7.92.
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