BlackBerry Z10 launch beat modest expectations, says Jefferies

theflyonthewall.com

Jefferies said its checks with 30-plus AT&T (T) stores indicated that demand is slightly better than its very modest expectations for BlackBerry's Z10 launch on March 22. Further, Jefferies believes the recent 1M order for BB10 was from Verizon (VZ) and points out its checks indicate that Verizon business sales are apparently very strong. The firm keeps a Buy rating on shares of BlackBerry with a $19.50 price target. Note Goldman this morning downgraded shares of BlackBerry citing a weak Z10 launch at AT&T.

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