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Fly News Breaks for September 25, 2019
BB
Sep 25, 2019 | 09:36 EDT
MKM Partners analyst Michael Genovese lowered his price target on BlackBerry to $6.50 and kept his Neutral rating after the company missed on revenue in Q2. The analyst notes that while the management claims that all of its businesses except for Enterprise Software and Services outperformed its revenue expectations, its Cylance sales were also below his forecast. Genovese contends that BlackBerry's core businesses - ESS and Cylance - are underperforming, while its potential unicorns like Auto and Radar are not "breaking out."
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