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BlackBerry Price Target Raised to US$9 at RBC

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RBC Capital Markets raised its price target on BlackBerry (BB.TO, BB) to US$9 from US$4.50.

Analyst Paul Treiber maintained a Sector Perform rating on shares of the Canadian software company following its fiscal Q1 results.

The stock rose 10% to C$16.13 on the Toronto Stock Exchange Friday.

"BlackBerry reported its largest beat in the last year, due to solid development seat license sales at QNX and perpetual license revenue at Secure Comms," Treiber said in a note to clients.

"While quarters may be lumpy due to one-time revenue, BlackBerry is moving into a period of headline growth following a period of transformation," the analyst said.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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