BlackBerry Price Target Increased to $9.00 by Analysts at Jefferies Group (BBRY)

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BlackBerry (NASDAQ:BBRY) had its price objective hosited by Jefferies Group from $6.00 to $9.00 in a report released on Wednesday, ARN reports.

Jefferies Group has also updated their ratings on a number of other stocks in the last week. The firm lowered its price target on shares of CGI Group from $40.00 to $34.00. Also, Jefferies Group reiterated its hold rating on shares of Weatherford. They have a $13.00 price target on that stock. Finally, Jefferies Group raised its price target on shares of Tsakos Energy Navigation from $6.50 to $11.00.

BBRY has been the subject of a number of other recent research reports. Analysts at MKM Partners raised their price target on shares of BlackBerry from $6.75 to $10.00 in a research note to investors on Monday, January 27th. They now have a neutral rating on the stock. Separately, analysts at Oppenheimer downgraded shares of BlackBerry from a market perform rating to an underperform rating in a research note to investors on Monday, January 13th. Finally, analysts at RBC Capital upgraded shares of BlackBerry from an underperform rating to a sector perform rating in a research note to investors on Friday, January 10th. They now have a $10.00 price target on the stock, up previously from $6.00. Fourteen equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. BlackBerry has a consensus rating of Hold and a consensus price target of $8.04.

BlackBerry (NASDAQ:BBRY) traded up 2.59% on Wednesday, hitting $9.941. The stock had a trading volume of 9,082,550 shares. BlackBerry has a one year low of $5.44 and a one year high of $17.22. The stock has a 50-day moving average of $8.57 and a 200-day moving average of $8.4. The company’s market cap is $5.153 billion.

BlackBerry (NASDAQ:BBRY) last released its earnings data on Friday, December 20th. The company reported ($0.67) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.43) by $0.24. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.59 billion. BlackBerry’s revenue was down 56.3% compared to the same quarter last year. Analysts expect that BlackBerry will post $-1.83 EPS for the current fiscal year.

Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.

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