Analysts at TD Securities and CIBC Capital Markets raised their price targets on BlackBerry (BB.TO, BB) to US$8 from US$5, and to US$13 from US$10, respectively.
TD analyst John Shao maintained a Hold rating on shares of the Canadian software firm following its fiscal Q1 2027 results.
"Following the material FQ1 beat, we have raised our estimates to reflect commentary around a healthy outlook for both Secure Communications (SC) and QNX," Shao said in a note to clients.
"We sensed rising optimism on larger SC deals in the pipeline, and expanding license revenue supports acceleration within QNX," the analyst said. "Our new expectations land above the higher end of the guide as we believe management are continuing to exercise conservatism on the outlook."
CIBC analyst Todd Coupland maintained an Outperformer rating on the stock.
"For investors, BB is moving from turnaround skepticism to a cleaner beat-and-raise/re-rate setup," Coupland said in a note to clients. "The debate now shifts to QNX backlog conversion, Alloy Kore/GEM design wins, and whether F2027 marks a stepchange in growth, operating leverage and value creation. We believe it does."
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