In a latest note to investors, a research analyst has provided a rating update for the Consumer Goods sector company, BlackBerry (TSX: BB). Analyst Michael Walkley from Canaccord Genuity remains neutral on the stock and has a C$10.50 price target.
Walkley said:
“We hosted a presentation and investor meetings with CFO Growth Conference. Management highlighted growth opportunities for BlackBerry including the QNX business now generating revenue beyond infotainment modules, monetizing their patent portfolio, device licensing, growth in Radar IoT and finally their ESS business. BlackBerry recently issued total software and services guidance of 8%-10% growth for F’19 with strong double-digit growth from BTS, better than previously expected licensing revenue offset by a lower run-rate for ESS than anticipated.”
According to TipRanks.com, Walkley is a top 100 analyst with an average return of 17.1% and a 63.0% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Adesto Technologies Corp, and Digi International Inc.
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The word on The Street in general, suggests a Hold analyst consensus rating for BlackBerry with a C$10.50 average price target.
The company has a one-year high of C$18.14 and a one-year low of C$10.66. Currently, BlackBerry has an average volume of 1.64M.
BlackBerry Ltd. engages in developing hardware and software solutions for mobile communications. It provides platforms and solutions, which supports multiple wireless network standards through the development of integrated hardware and software services.
The company’s shares closed on Thursday at C$13.69.
