Deutsche Bank Thinks Mobileiron Could Get F15 'BlackBerry Lift'

Mobileiron MOBL gained more than seven percent Monday after one analyst predicted new opportunity for the company if corporations dump BlackBerry BBRY in favor of the pending new iPhone or android devices.

Mobileiron, which provides mobile data management systems for business, could get a boost if the new iPhone expected next month can close a perceived security gap with devices made by BlackBerry, Deutsche Bank's Karl Keirstead said in a note.

"Our confidence in a 'BlackBerry lift' for Mobileiron is increasing for 2015," said Keirstead, who reiterated a Buy rating and $14 target on the company.

BlackBerry is expected to launch a new version of its own data management system called BlackBerry Enterprise Server 12 in November, and Keirstead previously expected that event would drive corporate decisions about keeping BlackBerry or migrating to other systems.

"We're now hearing those decisions will be impacted heavily by Apple's pending iOS 8 release," Keirstead said.

Apple has been placing more emphasis on corporate users by adding enhanced security features and "lockdown" functions giving administrators the ability to limit or disable iPhone functions, according to Keirstead.

The potential may grow for corporations to switch from BlackBerry phones managed by the company's proprietary enterprise server to iPhones or androids managed by platforms offered through Mobileiron or competitors Good Technology, Citrix and others.

Mobileiron traded recently at $10.26, up 9.5 percent. BlackBerry traded at $10.07, up 1.4 percent.

Posted In: Analyst ColorNewsPrice TargetReiterationIntraday UpdateAnalyst RatingsDeutsche BankKarl Keirstead
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...