BlackBerry Ltd upgraded as turnaround gains traction

BlackBerry Ltd. now appears to have less risks associated with its turnaround efforts, prompting an upgrade at RBC Capital Markets.

Following the Waterloo, Ontario-based company’s fourth quarter results that demonstrated it is no longer dependent on service- access-fee-related cash flow, analyst Paul Treiber upgraded BlackBerry to sector perform.

He also raised his target price on the stock to US$8 from US$7.50, noting that liability from BlackBerry’s hardware business has largely been eliminated. …

Source: BlackBerry Ltd upgraded as turnaround gains traction – FINANCIAL POST

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