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Fly News Breaks for December 21, 2015
BBRY
Dec 21, 2015 | 07:52 EDT
After BlackBerry reported stronger than expected Q3 results, RBC Capital says the company "is no longer at the brink," since its growing software revenue will probably constitute 27% of its total revenue next quarter, exceeding its declining service revenue, according to the firm. RBC thinks the company now has sufficient free cash flow to finance its investments in software, although it expects these investments to weigh on its EPS in Q4. RBC raised its price target on the stock to $9 from $8 but keeps a Sector Perform rating on the name.
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