MKM Partners analyst Michael Genovese lowered his price target on BlackBerry to $12 from $13.50 and kept his Neutral raing, saying Q1 revenue miss was driven by the 11% decline in the Enterprise segment. While the analyst notes the results were impacted by the ASC 606 accounting standard changes, he expects those factors to continue to pressure the top line for the rest of FY19. Outside Enterprise, the analyst is still positive on the BlackBerry Technology Solutions segment performance, where strength in Auto helped to boost the overall gross margins to 76.5%, which was 200bps ahead of his forecast.