BlackBerry Shares Rise as Analysts Raise Estimates

Shares in BlackBerry are up nearly 5% in trading today following positive news from several analysts.

RBC analyst Mark Sue this morning raised his firm’s estimates on BlackBerry 10 shipments, suggesting that “near-term profitability looks attainable.” RBC now forecasts that 14 million BlackBerry 10 units will ship this year, up from its earlier estimate of 11 million.

Societe Generale analyst Andy Perkins last week upgraded the Waterloo-based company’s stock from a “sell” to a “buy,” noting that “handset sales have been faster than previously assumed.” His report also boosted BlackBerry’s stagnant stock.

And recently, Wells Fargo analyst Maynard Um published a positive review of BlackBerry in a note to investors. Um explained that sales of the Q10 smartphone should help BlackBerry beat Wall Street expectations this quarter.

BlackBerry is slated to release its quarterly report on June 28.

Photo: Reuters