BlackBerry (BBRY): Needs a Compelling New Product - Imperial Capital
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Rating Summary:
4 Buy, 31 Hold, 12 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
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Imperial Capital analyst, Michael Kim, believes BlackBerry's (NASDAQ: BBRY) turnaround strategy remains a work-in-progress, with stronger revenue growth from software and services, but weaker hardware sales and greater decline in Service Access Fees (SAF) in F1Q17.
The analyst sees further headwinds in the hardware business until BBRY introduces more compelling products, such as new mid-range Android-based smartphones later this year. Management expects to achieve hardware operating profitability in F3Q17, buoyed by more favorable agreements with its ODM (original design manufacturer) partners. Management also expects potential device software licensing opportunities.
No change to In-Line rating or price target of $7.00
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 $6.67 yesterday.
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