Market Overview

Raymond James Reiterates Market Perform Rating on BlackBerry Following 10-Q Filing

Share:
Related BBRY
BlackBerry Still Has Work To Do After $815-Million Settlement With Qualcomm
Incremental Value Of Blackberry's Arbitration Award Estimated At $1.54 Per Share

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.

Latest Ratings for BBRY

DateFirmActionFromTo
Apr 2017CIBCUpgradesUnderperformerNeutral
Apr 2017MacquarieUpgradesNeutralOutperform
Sep 2016MacquarieUpgradesUnderperformNeutral

View More Analyst Ratings for BBRY
View the Latest Analyst Ratings

Posted-In: Raymond James Steven LiAnalyst Color Reiteration Analyst Ratings

 

Related Articles (BBRY)

View Comments and Join the Discussion!