Vetr Crowd Downgrades Blackberry After String Of Positive News

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The Vetr crowd on Tuesday downgraded its rating for BlackBerry Ltd BBRY from 4.5 stars (Strong Buy), issued 83 days ago, to 3.5 stars (Buy). Crowd sentiment at the time of the downgrade was generally cautious, with 72 percent of Vetr user ratings bearish.

Share price in Blackberry is approaching four-year highs due largely to recent news items that have signaled increased capital for BlackBerry. The first bump came late in March after delivering a solid earnings report.

Shortly following that, it was announced BlackBerry would be awarded $814 million in a patent arbitration case against QUAULCOMM, Inc. QCOM.

Earlier this week, the company announced an agreement with Ford Motor Company F to expand its development of an operating system for use in the automaker's cars, sending the stock near its current level of $11.30.

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Currently, the Vetr crowd's average target price of BlackBerry is up at $12.19, which is well above the average analyst target price of $8.66. Less than 2 percent of Vetr users are holding BBRY in their watch lists.

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Posted In: DowngradesPrice TargetCrowdsourcingAnalyst RatingsTechVetr
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