UPDATE: Raymond James Reiterates On BlackBerry On Raised Estimates

In a report published Friday, Raymond James analyst Steven Li reiterated a Market Perform rating on BlackBerry BBRY, and raised the price target from $9.50 to $10.00. In the report, Raymond James noted, “While F1Q15 was a much improved quarter, the ongoing Services decline and BBRY's ability to eventually offset with MDM revenues (non-BB devices) longer term keeps us on the sidelines for now. BBRY EZ Pass is being met with some success with 1.2 mln licenses traded in for BES10 (10% from competitors), but we are a long way from the 10 to 20 mln non-BB (iOS, Android) managed devices needed in our view for BBRY Enterprise to be reasonably profitable. We reiterate our Market Perform rating.” BlackBerry closed on Thursday at $9.09.