TechnologyTell

BlackBerry Re-Enters Market in a Big Way, Up 13-Percent on Day 1

Sections: Business News, Communications, Smartphones

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Riding high with their recent BB Z10 announcement and on the first day of their Nasdaq symbol change, BBRY, BlackBerry’s stock saw an increase of nearly 13-percent this Monday.

Up $1.67 to $14.67, Bernstein Research‘s analyst Pierre Ferragu also raised the company’s rating from Market Perform to Outperform; targeting the company’s target price at $22 per share.

“The same time we have grown more confident in the likely success of the BlackBerry 10 launch, supported by low channel inventories, strong operator support and material pent up demand. Initial feedback we have received from distributors on the first days of sales is particularly positive,” to quote Ferragu.

Source: <Barron’s>

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