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Desjardins has upgraded BlackBerry from Long-Term Sell to Long-Term Hold based on their Quant work citing rising operating profitability.
In its upgrade report the firm states:
“(BB) is being upgraded to a long?term hold from a long?term sell, as the operating profitability is now rising by 0.74 standard deviations as opposed to a decline of 1.33 standard deviations previously.
However, the probability score of 36 suggests below?average long?term prospect.
BB has announced its 1Q FY14 results, with revenue up 9% yoy, but with only 6.8m units of smartphones and 100,000 tablets being shipped; the company continues to suffer from quarterly losses, this time at C$67m.
Analysts are concerned that even with the new devices, the company continues to lose subscribers, including 4m in the quarter.
BB has an ROE of ?0.13% and does not issue dividends.”
Shares of BlackBerry closed at $9.55 yesterday, with a 52 week range of $9.42-$17.22.
The article Desjardins upgrades BlackBerry to Long-Term Hold appeared first on RAPIDBERRY.NET
