Oppenheimer analyst Andrew Uerkwitz came out today with his prediction on BlackBerry Ltd (NASDAQ:BBRY), as the mobile company is scheduled to report its fiscal first-quarter earnings results tomorrow before the market opens. Shares of BlackBerry closed today at $9.13, up $0.22 or 2.47%.

Uerkwitz wrote, “We reiterate our bearish view on BBRY’s handset business heading into the quarter. We believe consensus underestimates the difficulty BBRY is facing for its smartphones vs. competition, and market-wide weakness in 1H15 may exacerbate the Y/Y decline in BBRY’s device revenues. We believe a stabilized handset business and growth in software revenues are two key drivers for BBRY. On the positive side, we believe we are 1-2 quarters away from seeing material traction of the software business, which could provide management with some positive momentum.”

The analyst reiterated a Perform rating on BlackBerry shares, while no price target was provided.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Uerkwitz has a total average return of 6.4% and a 59.4% success rate. Uerkwitz has a -9.4% average return when recommending BBRY, and is ranked #783 out of 3638 analysts.

Out of the 28 analysts polled by TipRanks, 3 recommend BlackBerry stock a Buy, 18 recommend to Hold and 7 recommend to Sell. With a return potential of 7.4%, the stock’s consensus target price stands at $9.60.


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