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Analyst cuts rating on BlackBerry, stock falls

Posted: , by Alan F.

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Analyst cuts rating on BlackBerry, stock falls
With BlackBerry set to announce its fiscal first quarter earnings report next week, Bernstein analyst Pierre Ferragu has cut his rating on the shares of the Canadian manufacturer to "underperform", resulting in a 4.6% drop in the price of the stock on Wednesday. While a pair of analysts last week both said that they expect BlackBerry to have shipped more phones than expected in the prior quarter, Ferragu sees disappointing results coming from the announcement.

In a note to clients, Ferragu said, "The initial enthusiasm that we observed for Blackberry 10 devices now appears to be waning," and cut his target on the stock to $10 from $15. BlackBerry has introduced three BlackBerry 10 models this year with another 3 to 4 expected before the end of the year. BlackBerry has been guarded about how well the all-touch BlackBerry Z10 and the QWERTY equipped BlackBerry Q10 have fared in the market, so the earnings report is expected to be closely watched by both Wall Street analysts and industry players.

As of mid-day Wednesday, BlackBerry shares were trading at $14.16, down 68 cents on the day. Last September, the stock traded as low as $6.22.

source: Reuters

16 Comments
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posted on 19 Jun 2013, 12:54 2

1. jdoee100 (Posts: 269; Member since: 04 Jun 2013)


Can't trust news aka trash anymore. One day, it's doing great. Next day, it's doing terrible. Huh? Only hard numbers like revenue, profit, etc tell the truth.

posted on 19 Jun 2013, 12:55

3. Nikolas.Oliver (Posts: 1340; Member since: 01 Jul 2012)


Damn it you were so fast..

posted on 19 Jun 2013, 12:57

4. jdoee100 (Posts: 269; Member since: 04 Jun 2013)


snooze you lose. lol

posted on 19 Jun 2013, 13:15

5. PhoneArenaUser (Posts: 4588; Member since: 05 Aug 2011)


"Can't trust news aka trash anymore. One day, it's doing great. Next day, it's doing terrible. Huh?"

I think that BlackBerry was spreading propaganda to artificially increase confidence in BlackBerry.

posted on 19 Jun 2013, 13:26 1

6. Nikolas.Oliver (Posts: 1340; Member since: 01 Jul 2012)


BlackBerry propaganda haha, Like North Korea :)

posted on 19 Jun 2013, 17:06

11. PhoneArenaUser (Posts: 4588; Member since: 05 Aug 2011)


Not like North Korea, but still propaganda.

P.S.
Propaganda exist not only in North Korea.

posted on 19 Jun 2013, 12:55

2. Nikolas.Oliver (Posts: 1340; Member since: 01 Jul 2012)


Good news :)

posted on 19 Jun 2013, 13:46

7. cornerofthemoon (Posts: 485; Member since: 20 Apr 2010)


One day Blackberry is booming, the next day it's screwed, then booming again, then screwed....My head is spinning.

posted on 19 Jun 2013, 13:46 3

8. XPERIA-KNIGHT (Posts: 2384; Member since: 08 Aug 2012)


Dude you're such a hater......^^@Nikolas Oliver

posted on 19 Jun 2013, 21:22

14. Nikolas.Oliver (Posts: 1340; Member since: 01 Jul 2012)


Haters..

Haters everywhere

posted on 19 Jun 2013, 14:08 1

9. GeekMovement (Posts: 1497; Member since: 09 Sep 2011)


i hope blackberry can step it up and continue to improve their bb10 os. I'd really love to give it a try if only Sprint would carry them (and windows phone)... dang it sprint!

posted on 19 Jun 2013, 17:43

12. ZeroCide (Posts: 677; Member since: 09 Jan 2013)


Sprint is always late to the party.

posted on 19 Jun 2013, 14:10

10. ZeroCide (Posts: 677; Member since: 09 Jan 2013)


The end is nigh.

posted on 19 Jun 2013, 18:19

13. ibap (Posts: 675; Member since: 09 Sep 2009)


And when we find out Ferragu is busily selling the stock short? (And I mean that literally, in the market.)

posted on 20 Jun 2013, 02:20

15. apiskula (limited) (Posts: 441; Member since: 25 Jan 2013)


This is great news

posted on 20 Jun 2013, 17:16

16. vddeguzman (Posts: 41; Member since: 12 Jul 2012)


That's too bad. But maybe they just have to launch more devices to keep the buzz. That's why Samsung, Sony, LG keep on launching so many models almost every month.

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