UPDATE: Deutsche Bank Downgrades BlackBerry to Sell, Lowers PT Following In-Line Q4 Revenues

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

In a report published Monday, Deutsche Bank analyst Brian Modoff downgraded the rating on BlackBerryBBRY) from Hold to Sell, and lowered the price target from $8.00 to $6.00.In the report, Deutsche Bank noted, “Blackberry announced Q4 revenues of $3.1 billion, in-line with our estimate but below consensus of $3.4 billion. Pro-forma EPS was ($0.13), below our estimate of ($0.11) and consensus of $0.07. The company shipped 6.8 million smartphone units in the quarter, including 2.7 BB10 units. This compares to our estimate of 2.5 million BB10 units and consensus of 3.1 million. Unfortunately it appears that our longer-term view of the firm's challenges have borne out much more quickly, a result of the extremely competitive smartphone market. As a result, we downgrade to Sell and lower our price target from $8 to $6.”BlackBerry closed on Friday at $10.46.

Crypto Whales Are Loading Up — Are You?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!