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Fly News Breaks for March 29, 2018
BB
Mar 29, 2018 | 09:20 EDT
MKM Partners analyst Michael Genovese raised his price target on BlackBerry to $13.50 from $11.50 after the company's Q4 earnings and revenue beat, saying that sales expectations were exceeded across all Software business lines. The analyst adds that Enterprise bookings are gaining market share with strength in Government and Health care verticals, while the prospects for penetration in Asia and new verticals such as Energy contribute to BlackBerry's potential for faster growth. Genovese keeps his Neutral rating on BlackBerry, noting that valuation appears rich at current levels, but also points out the company's potentially large opportunities in the Auto segment's infotainment, hypervisor, Security and autonomy areas as well as in asset tracking within the Internet of Things technology.