No Excess BlackBerry (BBRY) Z10 Inventory - Jefferies

March 7, 2013 1:43 PM EST
Get Alerts BBRY Hot Sheet
Price: $7.37 -1.47%

Rating Summary:
    7 Buy, 39 Hold, 16 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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BlackBerry (NASDAQ: BBRY) is seeing mid-day activity following positive comments from Jefferies' analyst Peter Misek. The analyst said his checks at UK stores show no excess inventory for the Z10.

Misek commented: "We physically checked six stores in London and Edinburgh on our recent marketing trip for signs of excess inventory or wavering Z10 demand. We found neither."

The analyst said all stores showed only a few devices in stock and sell-through appeared fine. This was consistent with previous checks in the UK and Canada. Checks with store managers indicate they have not heard of too much inventory; instead they noted two stores in their network that were sold out. On price cuts, this was deemed as standard practice.

Bottom line - contrary to some reports out there the analyst said the Z10 continues to sell steadily.

Misek maintained Buy rating and price target of $19.50 on BBRY.

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 $13.35 yesterday.

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