Cormark upgrades BlackBerry to Top Pick, says performance “remarkable”
April 1, 2013 By Cantech
Cormark analyst Richard Tse said the long weekend provided him a little extra time to review BlackBerry’s Q4and fiscal 2013 results, which were released last Thursday.
Tse says he came away from the extended review with more confidence in the Canadian smartphone maker, and has upgraded the stock to “Top Pick” rating. The Cormark analyst has a $20 one-year target price on BlackBerry.
Tse says BlackBerry’s Q4, in which it reported operating EPS of $0.22 on revenue of $2.7-billion, provided continued evidence that the company’s new management team is more than up to the task of successfully transitioning BlackBerry to its new platform.
“In our view, given the hyper competitive market and major internal product transition, we believe the results of the past two quarters have been nothing short of remarkable,” said Tse. “Operating improvements thus farunder such extreme challenges give us reason to believe in BlackBerry’s ability to execute on BB10 as having better odds than we originally would have anticipated.”
I'm waiting for Goldman Sack's BlackBerry analyst Simona Jankowski to make a call. She made a terrible mistake of changing her rating on only the low start in the U.S. with AT&T. That was a terrible call. She better get on board soon or lose her credibility with respect to her coverage of BlackBerry. She did not event participate in the earnings call. I think she was present but was to embarrassed to ask questions although she was twice given the chance.
thre goldman analyst lowered her target when bbry was in the mid 16's. it is now in the low 15's. thusfar, how was that a mistake ? answer : it isn't. you are a j@ck@ss. cantech ? lmao !!!!!!!!!!!!!!!!!!!!
It is more embarrassing for an analyst to upgrade a stock a
nd then to see it crash
than it is to downgrade it,
and then it beats expectations
If she did not influence her customers into shorting, then her job is not at risk.