BlackBerry Ltd (BBRY) Rating Reiterated by Royal Bank of Canada

BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)‘s stock had its “hold” rating reaffirmed by Royal Bank of Canada in a research report issued on Friday. They presently have a $7.50 target price on the smartphone producer’s stock. Royal Bank of Canada’s price target suggests a potential upside of 5.78% from the stock’s current price.

BBRY has been the topic of a number of other research reports. Credit Suisse Group AG reaffirmed an “underperform” rating and set a $6.00 price objective on shares of BlackBerry in a research report on Wednesday, December 7th. Zacks Investment Research downgraded BlackBerry from a “buy” rating to a “hold” rating in a research report on Monday, January 23rd. Global Equities Research started coverage on BlackBerry in a research report on Monday, March 13th. They set an “overweight” rating and a $11.00 price objective on the stock. Wells Fargo & Co reaffirmed a “market perform” rating on shares of BlackBerry in a research report on Saturday, December 10th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $8.00 price objective on shares of BlackBerry in a research report on Friday, December 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $7.98.

Analyst Recommendations for BlackBerry (NASDAQ:BBRY)

Shares of BlackBerry (NASDAQ:BBRY) opened at 7.09 on Friday. The stock’s 50 day moving average is $7.10 and its 200 day moving average is $7.32. BlackBerry has a 52-week low of $6.23 and a 52-week high of $8.46. The stock’s market cap is $3.76 billion.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Iridian Asset Management LLC CT boosted its position in shares of BlackBerry by 45.3% in the fourth quarter. Iridian Asset Management LLC CT now owns 20,935,089 shares of the smartphone producer’s stock valued at $144,243,000 after buying an additional 6,525,809 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of BlackBerry by 13.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,487,443 shares of the smartphone producer’s stock valued at $107,345,000 after buying an additional 1,604,050 shares in the last quarter. Bank of Montreal Can boosted its position in shares of BlackBerry by 4.8% in the third quarter. Bank of Montreal Can now owns 5,119,861 shares of the smartphone producer’s stock valued at $40,856,000 after buying an additional 234,955 shares in the last quarter. Kahn Brothers Group Inc. DE boosted its position in shares of BlackBerry by 8.2% in the third quarter. Kahn Brothers Group Inc. DE now owns 4,343,060 shares of the smartphone producer’s stock valued at $34,658,000 after buying an additional 327,500 shares in the last quarter. Finally, Norges Bank bought a new position in shares of BlackBerry during the fourth quarter valued at $24,556,000. Hedge funds and other institutional investors own 62.41% of the company’s stock.

About BlackBerry

BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.

5 Day Chart for NASDAQ:BBRY

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