Don’t forget, today, Research in Motion became BlackBerry�(BBRY) on Nasdaq.
Following the company’s Super Bowl commercial for the�BlackBerry 10�operating system upgrade yesterday, the stock is currently up $1.67, or almost 13%, at $14.67, and rose as high as $14.72, extending pre-market gains. It is one of the standout gainers amidst a 1% slide in the Nasdaq Composite Index.
The shares got at least one upgrade this morning, from Bernstein Research‘s Pierre Ferragu, who raised his rating from Market Perform to Outperform, with a $22 price target, up from $12, writing �that while it’s still unlikely, in his view, the company can make “a sustained comeback,” nevertheless, investors should bet on the initial good news from the BB10 roll-out:
The same time we have grown more confident in the likely success of the Blackberry 10 launch, supported by low channel inventories, strong operator support and material pent up demand. Initial feedback we have received from distributors on the first days of sales is particularly positive. Investors now seemingly overlook the likely initial success of Blackberry 10. We expect new phones to swing Blackberry’s P&L into the black in 1QF14, and we do not expect the progressive decline in service revenue will either materially impact the company’s P&L in the short term, or in itself jeopardize the future of Blackberry.
Update:�On CNBC a short while ago, Fast Money: Halftime Report‘s Scott Wapner, after remarking that initial sales data in places such as the U.K. seem to be good,�remarked that he has one of the new Z10�phones. “I have one, it’s a great phone.”Wapner then went on to state, “I think one of the things going on is there’s huge short interest; I don’t think people even know why they’re short it any more; so, I would step into it,” meaning, buy the stock.
No comments:
Post a Comment