UPDATE: Desjardins Upgrades BlackBerry (BBRY) to Hold

July 8, 2013 9:21 AM EDT
Get Alerts BBRY Hot Sheet
Price: $7.27 --0%

Rating Summary:
    7 Buy, 39 Hold, 16 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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(Updated - July 8, 2013 10:02 AM EDT)

Desjardins upgraded BlackBerry (NASDAQ: BBRY) from Long-Term Sell to Long-Term Hold based on their Quant work citing rising operating profitability.

In its upgrade report the firm states: "(BB) is being upgraded to a long‐term hold from a long‐term sell, as the operating profitability is now rising by 0.74 standard deviations as opposed to a decline of 1.33 standard deviations previously. However, the probability score of 36 suggests below‐average long‐term prospect. BB has announced its 1Q FY14 results, with revenue up 9% yoy, but with only 6.8m units of smartphones and 100,000 tablets being shipped; the company continues to suffer from quarterly losses, this time at C$67m. Analysts are concerned that even with the new devices, the company continues to lose subscribers, including 4m in the quarter. BB has an ROE of ‐0.13% and does not issue dividends."

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 $9.55 yesterday.

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