Jefferies Group Increases BlackBerry Price Target to $9.00 (BBRY)

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Research analysts at Jefferies Group hoisted their price target on shares of BlackBerry (NASDAQ:BBRY) from $6.00 to $9.00 in a report released on Wednesday, American Banking News.com reports. Jefferies Group’s target price would suggest a potential downside of 9.64% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at MKM Partners raised their price target on shares of BlackBerry from $6.75 to $10.00 in a research note to investors on Monday, January 27th. They now have a “neutral” rating on the stock. Separately, analysts at Oppenheimer downgraded shares of BlackBerry from a “market perform” rating to an “underperform” rating in a research note to investors on Monday, January 13th. Finally, analysts at RBC Capital upgraded shares of BlackBerry from an “underperform” rating to a “sector perform” rating in a research note to investors on Friday, January 10th. They now have a $10.00 price target on the stock, up previously from $6.00. Fourteen research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.04.

Shares of BlackBerry (NASDAQ:BBRY) traded down 0.25% on Wednesday, hitting $9.935. The stock had a trading volume of 5,490,473 shares. BlackBerry has a 1-year low of $5.44 and a 1-year high of $17.22. The stock’s 50-day moving average is $8.69 and its 200-day moving average is $8.41. The company’s market cap is $5.150 billion.

BlackBerry (NASDAQ:BBRY) last issued its quarterly earnings data on Friday, December 20th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by $0.24. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.59 billion. The company’s revenue for the quarter was down 56.3% on a year-over-year basis. Analysts expect that BlackBerry will post $-1.83 EPS for the current fiscal year.

Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.

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