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Fly News Breaks for June 18, 2015
BBRY
Jun 18, 2015 | 08:11 EDT
Morgan Stanley continues to believe BlackBerry will revise FY16 guidance down. The firm remains skeptical of management's FY16 $600M software and messaging revenue target. Morgan Stanley believes Blackberry will need upsell to its BES12 subscribers and expand beyond its EZ Pass base in order to meet it but longer sales cycles and market challenges will result in reduced FY guidance. The firm maintains its Underweight rating and $7 price target on shares.
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