BlackBerry adds to gains on Evercore upgrade

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.

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Comments (24)
  • Quoth the Raven
    , contributor
    Comments (2063) | Send Message
    ...and Seeking Alpha's very own QTR :)
    23 Jun 2014, 10:46 AM Reply Like
  • Tíotán
    , contributor
    Comments (9) | Send Message
    BlackBerry will be King once again..
    23 Jun 2014, 10:49 AM Reply Like
  • LYogi
    , contributor
    Comments (3200) | Send Message
    $10 on the way to much much more
    23 Jun 2014, 10:56 AM Reply Like
  • David653
    , contributor
    Comments (5790) | Send Message
    how can you possibly think just because Chen curbed spending a company is worth more?? What part of " still losing market share do you not understand??
    23 Jun 2014, 04:32 PM Reply Like
  • LYogi
    , contributor
    Comments (3200) | Send Message
    The value in BlackBerry lies in its technology and secured network. They offer something that no other company can, trusted secured end-to-end messenging to anywhere in the world. Other companies can secure messaging within an organization but not to outside the organization's network.


    Add the efficiency and functionality of QNX, the promise of being able to manage the back end of trillions of transactions between the Internet of Things and you have lean company set to harness its IP and become a major player once again in diverse mobile communication.
    23 Jun 2014, 11:23 PM Reply Like
  • Guest Eh
    , contributor
    Comments (484) | Send Message
    These market grading changes seem to be the only external event to affect the stock value rapidly outside of quarterly reports and Blackberry news releases. The Seeking Alpha articles and our comments pro or con are fun to read but do little to affect the stock value. I have a feeling there will be more and more upgrades coming up soon.


    I am very interested in reading the first admission from Cramer and "The Street" that BBRY is turning around. That will be one carefully worded bit of creative text.
    23 Jun 2014, 11:02 AM Reply Like
  • Kastanes
    , contributor
    Comments (1288) | Send Message
    I am not sure Cramer has the integrity to be honest and go against the hedge funds that back him. Hedge funds and pensions are heavily invested in Apple.
    23 Jun 2014, 11:17 AM Reply Like
  • Guest Eh
    , contributor
    Comments (484) | Send Message


    It should be easier for Cramer to state with conviction that things are going real well in Iraq right now than to articulate his forced position on BBRY stock.
    23 Jun 2014, 02:44 PM Reply Like
  • vigma
    , contributor
    Comments (1023) | Send Message
    Guest -- I pay no attention to Cramer, but arguably this piece from is almost bullish on BBRY. Minimally it recognizes Chen's impact and his potential to create value for shareholders:

    23 Jun 2014, 04:01 PM Reply Like
  • Kastanes
    , contributor
    Comments (1288) | Send Message
    Cramer stated after the earnings he did not see BlackBerry going anywhere. It was right after the earnings and was reading from a sheet of paper.


    My question is; did he listen to the earnings call or was the paper stating the opinion of his backers? I listened to the call and was extremely impressed by Chen.


    If I had to bet, I would bet he did NOT listen to the call.
    23 Jun 2014, 10:03 PM Reply Like
  • Guest Eh
    , contributor
    Comments (484) | Send Message
    Thanks vigma, perfect link for me!
    23 Jun 2014, 11:05 PM Reply Like
  • User 16774782
    , contributor
    Comment (1) | Send Message
    Incredible change of opinion on PT.... $4 to $10 its more than 100% ...
    23 Jun 2014, 11:06 AM Reply Like
  • Davidoff
    , contributor
    Comments (409) | Send Message
    "by $4 to $10", not from 4 to 10 ($6 -> $10). Just saying.
    23 Jun 2014, 11:13 AM Reply Like
  • Cliff Hilton
    , contributor
    Comments (2843) | Send Message
    I do not mean to be hyper judgmental, isn't it a really elementary upgrade? It's at $10 already. And Blackberry has been saying what they are going to do with the BES12 upgrade. This is not an upgrade. This is not analysis. This is like sticking your hand out of the window when you see it raining and say it's wet; it's raining.


    I want to know what the forecast is going to be next quarter, not what I see plainly.


    I hope no one is making bets on this companies upgrade, the value is staring me right in the face.


    I upgraded this company a long time ago. I put my money where my mouth is.
    23 Jun 2014, 11:28 AM Reply Like
  • LYogi
    , contributor
    Comments (3200) | Send Message
    that makes two of us Cliff. I added to my position last week
    23 Jun 2014, 11:31 AM Reply Like
  • Arduino_RaspberryPi
    , contributor
    Comments (376) | Send Message
    Again, you're just witnessing analysts predicting yesterdays weather.
    23 Jun 2014, 11:33 AM Reply Like
  • contrarianwise
    , contributor
    Comments (1349) | Send Message
    job security:
    definition of an analyst:
    whatever the shareprice is--I predict two to three points in either direction.


    so if I was at $6 and it trades at $10--I say market perform and put $10.
    Then I collect my check for a hard days work.
    23 Jun 2014, 11:44 AM Reply Like
  • Cliff Hilton
    , contributor
    Comments (2843) | Send Message


    Yea, I added about two months ago. I'm in waist deep. This is my first attempt to average down on any stock while I had a chance. Another $1 and I'll be even. The water sure feel good....ya'll come on in!
    23 Jun 2014, 12:26 PM Reply Like
  • Cliff Hilton
    , contributor
    Comments (2843) | Send Message


    23 Jun 2014, 12:27 PM Reply Like
  • shubarua1
    , contributor
    Comments (1551) | Send Message
    Re: Next Forecast


    Blackberry is in execution mode.


    First Qtr : BBM roll out across all platforms
    Z3 roll out in Indonesia
    EZ pass and BES10 release
    Blackberry turns to Profit Q1


    2nd Qtr : Z3 roll out in Vietnam, India.....
    BBM Money roll out in NA
    BBM Protect roll out
    BBM for Window (means more BBM users. currently 160 mil
    registered users)
    Blackberry turns to profit Q2 (forecast)
    24 Jun 2014, 01:06 AM Reply Like
  • BBwetrust
    , contributor
    Comments (2896) | Send Message
    Stingy upgrade to $10, and it is already trading at $10. Evercore price target doesn't make sense.
    23 Jun 2014, 01:41 PM Reply Like
  • englishstriker
    , contributor
    Comments (172) | Send Message
    By the way, any idea on when the next earnings report will be?


    23 Jun 2014, 02:08 PM Reply Like
  • jjtom
    , contributor
    Comments (443) | Send Message
    I think it's the analysts and David that are too little too late! At least Marcap, A.Hopf and KIA are smart enough to know to stay away right now!
    23 Jun 2014, 06:01 PM Reply Like
  • Guest Eh
    , contributor
    Comments (484) | Send Message


    I wish Marcap and the others were here right now. I would rather know the strength of the "enemy" than the strengths of my own beliefs when reflecting on my position. Marcap has called many things right in the not too distant past. At the time I thought he had lost his mind but upon reflection, he was bang on regarding several key points. I still think he is wrong now, but I respect him.
    23 Jun 2014, 11:08 PM Reply Like
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