BlackBerry adds to gains on Evercore upgrade

|About: BlackBerry Ltd. (BBRY)|By:, SA News Editor

Evercore's Mark McKechnie has upgraded BlackBerry (BBRY +2.1%) to Equal Weight, and hiked his PT by $4 to $10.

McKechnie is pleased with BlackBerry's "stabilizing cash burn." He's also optimistic about BlackBerry's efforts to hold onto its core base with the help of its EZ Pass licensing program (offers incentives to get companies to use BES10 to manage multiple platforms) and BES12.

BlackBerry promises BES12 (due in November) will offer better multi-platform support and service management tools, and will also support cloud deployment options to go with traditional on-premise installations.

Shares now +21% since the FQ1 beat, with an assist from Citron Research.