Global Equities Research Starts BlackBerry (BBRY) at Overweight, $11 PT

Global Equities Research launches formal coverage on BlackBerry (NASDAQ: BBRY) with a Overweight rating and a price target of $11.00.

Analyst Trip Chowdhry cited:

• Our Price Target of $11.00 on BBRY is over 24 months to 36 months period, i.e. 2 to 3 years out
• Quarterly Revenues and Earnings means nothing to BBRY - it is a play on a new Industry Creation catalyzed by President Trump's $1 Trillion Infrastructure spend - BBRY will have some misses and some hits over the next 2 to 3 years
  • There have only been 2 successful turnarounds in the recent Business History
    • Apple with Steve Jobs
    • Sybase with Dr. John Chen, who is now the CEO of BlackBerry
    • However, no one has so far successfully created two turnarounds
• Our Bullish investment thesis on BBRY is based on its Charismatic Leader Dr. John Chen and his ability to create another phenomenal success at BlackBerry, similar to that of Sybase; while leveraging the President Trump's $1 Trillion Infrastructure spend
  • Dr. John Chen has in the past successfully provided his expertise to the Republican Presidents, and working with Trump's administration will be no different

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 $6.84 yesterday.

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