Needham & Company Upgrades BlackBerry (BBRY) to Hold

March 31, 2014 7:08 AM EDT
Get Alerts BBRY Hot Sheet
Price: $7.12 +0.28%

Rating Summary:
    7 Buy, 39 Hold, 16 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Needham & Company upgraded BlackBerry (NASDAQ: BBRY) from Underperform to Hold.

Analyst Charlie Wolf upgrade the stock for two reasons: "First, John Chen, the new CEO, seems to have brought adult supervision to the company. Second, we see potential for a meaningful upgrade cycle in the company’s installed base later this year when BlackBerry introduces its new "Classic" business smartphone."

The firm is raising fiscal 2015 estimate from a loss of $3.85 to a loss of $1.75.

For an analyst ratings summary and ratings history on BlackBerry click here. For more ratings news on BlackBerry click here.

Shares of BlackBerry closed at $8.41 yesterday.

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