BlackBerry pops; Citron ups PT to $20

Citron Research, which set a $15 target for BlackBerry (BBRY +4.3%) in January, has hiked its PT to $20.

In a new report (.pdf), Citron gushes (somewhat ironically, given its reputation for throwing cold water on hyped tech trends) over BlackBerry's potential to provide software and services to help enable the proverbial Internet of Things (IoT).

Citron notes BlackBerry's Project Ion aims to provide an analytics infrastructure for businesses trying to leverage the data produced by millions of embedded devices, and that its QNX OS already makes it a player in the embedded market. It also sees BlackBerry's security reputation helping its cause.

The firm calls John Chen "one of the strongest and most credible leaders on Wall Street," and thinks a tech giant could be interested in making a bid.

Shares now +14% since yesterday's FQ1 beat.

Yesterday's coverage

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Comments (18)
  • LYogi
    , contributor
    Comments (3220) | Send Message
    Blackberry via QNX will be the backbone for the interconnected world of things both now and for the foreseeable future.


    The wisdom and foresight of the math and physics geniuses in Waterloo is beginning to shine.


    This is a stock you buy, and you hold and eventually bequeath to your grandchildren.


    How's that for a pump?


    I believe.
    20 Jun 2014, 11:27 AM Reply Like
  • F.E.K
    , contributor
    Comments (27) | Send Message
    Fully agree!!
    20 Jun 2014, 11:30 AM Reply Like
    , contributor
    Comments (2717) | Send Message
    3rd that.
    20 Jun 2014, 12:51 PM Reply Like
  • sstorey
    , contributor
    Comments (23) | Send Message
    2nd that!
    20 Jun 2014, 11:28 AM Reply Like
  • Thurai sivakumaran
    , contributor
    Comments (29) | Send Message
    same here from me
    20 Jun 2014, 11:38 AM Reply Like
  • fatt
    , contributor
    Comments (17) | Send Message
    If you just believe those dump wall street analysts you definitely die, remember in the year 2000 when the tech bubble occurred, those no conscious analysts caused me lost 600K, I almost kill myself, why in the world they have these kind of analysts?????
    20 Jun 2014, 11:42 AM Reply Like
  • LYogi
    , contributor
    Comments (3220) | Send Message
    most of those analysts have been telling you that Blackberry is worthless and not worth more than the cash they have in the bank while companies like Tesla are worth more than Ford.


    You do the math.
    20 Jun 2014, 11:45 AM Reply Like
    , contributor
    Comments (2717) | Send Message
    Some Analysts are great, but IMO the majority are junk. They provide weak research and it affects the share price of companies.
    Many Lost a lot due to the incompetence of these bogus Analysts.


    The key is to know how to ride the waves and buy/sell accordingly. Many times going against your own DD.
    20 Jun 2014, 12:55 PM Reply Like
  • hz06
    , contributor
    Comments (1651) | Send Message
    @ELLAS - "Some Analysts are great, but IMO the majority are junk."


    second that. in tech stocks, i feel most of the analysts are not up to speed, and most of them "follow" many stocks at the same time. a quick glance of news, bang, one article. when a stock runs up for a long time, they give it a buy, outperform, and think it's safe for them to say that. same the other way around. it's easy to use a computer program to "analyze" a company's performance in the past years and "predict" the trend as an extension of the past trend.


    it's the retail investors who don't do their own DD and follow those analysts. but think about this, without the retail investors losing money, how can the institutions buy low sell high? (i understand company earnings do go up in the long run, but stock trading is a secondary market at the same time)
    20 Jun 2014, 09:34 PM Reply Like
  • shubarua1
    , contributor
    Comments (1551) | Send Message
    Re: the key is to know how to ride the waves and buy/sell accordingly


    Is MACD chart key to buying and selling as shown below?
    or, there is a better method?


    Let's go to basic


    MACD Line (fast line)= short term moving average - long term moving average
    Signal line (slow line)= 9 days moving average of MACD


    Upside Momentum (bullish):
    When shot time MA > long term MA which means MACD line positive (MACD is over the center line)


    Downside Momentum (bearish):
    short term MA < long term MA which means MACD line negative (MACD line below the center line)


    Signal Line Crossovers
    a) Hold on stock (stock moves sideway)
    Fast line crosses below slow line
    b) Buy stock (Entry Point)
    Fast line crosses over slow line


    Center Line crossovers (0-----0 line)
    c) sell stock (red flag!)
    Fast line crosses below center line
    d) Buy stock (Entry Point)
    fast line crosses over the center line




    Rule of thumb: Buy when stock undersold and cheap (Entry Point?)
    21 Jun 2014, 02:56 AM Reply Like
  • Cageyone
    , contributor
    Comments (231) | Send Message
    It must be getting increasingly challenging to put a negative spin on the BB story going forward!
    20 Jun 2014, 11:44 AM Reply Like
  • Kastanes
    , contributor
    Comments (1289) | Send Message
    While I am physics and math guy, I am no genius. However I have enough common sense to know a good vs bad thing.


    Chen has integrity and a reputation to uphold; adjectives lost long ago on Wall Street.
    20 Jun 2014, 11:57 AM Reply Like
    , contributor
    Comments (2717) | Send Message
    Reading up on Mr. John Chen, he only took up BlackBerry for the Challenge. The money comes in at third place for him. He is truly an honorable individual.


    I've been preaching aggressively since John Chen took the helm, that John Chen is not Thorsten Heins. No disrespect to Mr. Heins, because he was in a tight spot powered by a weak management team, and poked at by the Co-CEO's somewhat controlling things behind the scenes.


    John Chen is an expert in turning companies around. He has absolutely no attachment to BlackBerry or any of its business divisions. This makes John Chen very dangerous to the large Short Interest.


    But at the same time, John Chen understands BlackBerry's strong ICONIC Branding and loyal followers. He's pretty much managed to cater to the loyalists consumers and business people via the Classic and Q30 while pushing forward with Full Touch Devices such as the rumoured high powered Z50 to gain new customers and cater to current BBRY customers that want full touch devices. John Chen has pretty much catered or will cater to everybody by giving them "CHOICE".


    Devices for now and in the foreseeable future are what people look at and determine a companies health/recognition within the Enterprise and consumer space. John Chen knows this, and he's approaching this very intelligently.




    Z3/Classic/Q30/Z50 ;)
    20 Jun 2014, 01:12 PM Reply Like
  • customize
    , contributor
    Comments (184) | Send Message
    BlackBerry has the knowledge and the software, software runs and control things, on the contrary if BlackBerry is able to hold itself together then it will one day purchase and take control of a tech giant.
    20 Jun 2014, 12:01 PM Reply Like
    , contributor
    Comments (60) | Send Message
    Citron has barely scratched the surface and I will say 'NICE TRY'. The bashing will continue until 2015 when MARCAP, ANDREAS HOPF, KOFI BOFAH, MR KNOWITALL & DAVID 653 suddenly realise the train left the station a long while ago.The price swings will be their justification going forward.
    20 Jun 2014, 12:01 PM Reply Like
  • customize
    , contributor
    Comments (184) | Send Message
    You got me Fatt!!
    20 Jun 2014, 12:07 PM Reply Like
  • leopardtrader
    , contributor
    Comments (3805) | Send Message
    I am never a fan of Citron or his business tactics of bombastic headlines. However I fully appreciate the fact that BBRY is miles ahead with their QNX ( being the only true multitasking Mobile Operating System) which could be adaptable to wide verity of applications now we are moving full speed into Internet of Things IoT world. Their worldwide Pop infrastructure and relationships with Telcos and their unbroken messaging encryption also stand out. Now throw in a reputable and hardworking CEO that knows the job is no brainer this stock have bright future.
    20 Jun 2014, 12:09 PM Reply Like
  • Pofview
    , contributor
    Comments (39) | Send Message
    i think Criton and Collins read Chens vision correctly
    20 Jun 2014, 12:24 PM Reply Like
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