Market Overview

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

Share:
Related BBRY
FTC's Anti-Trust Suit against Qualcomm Remains on Track
Watch These 8 Huge Call Purchases In Tuesday Trade
Paulson Dives Deeper Into Valeant With Increased Holding (GuruFocus)

In a report published Monday, Deutsche Bank analyst Brian Modoff downgraded the rating on BlackBerry (NASDAQ: BBRY) 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.

Latest Ratings for BBRY

DateFirmActionFromTo
May 2017Raymond JamesDowngradesOutperformMarket Perform
Apr 2017CIBCUpgradesUnderperformerNeutral
Apr 2017MacquarieUpgradesNeutralOutperform

View More Analyst Ratings for BBRY
View the Latest Analyst Ratings

Posted-In: Brian Modoff Deutsche BankAnalyst Color Downgrades Analyst Ratings

 

Related Articles (BBRY)

View Comments and Join the Discussion!