In the incredibly competitive smartphone field, BlackBerry Ltd. (NASDAQ: BBRY) has been battered, and it seems nearly impossible to believe that it can turn itself around. Most analysts’ sentiments reflect this belief because they are generally all neutral or negative. Credit Suisse opines on where BlackBerry stands to go from here in its most recent report.
Kulbinder Garcha, Credit Suisse analyst, reiterated an Underperform rating for BlackBerry with a price target of $6. Credit Suisse maintains that the continued decline of service revenue coupled with the limited visibility of mobile device management (MDM) remains the principal risk to the turnaround. The firm continues to have reservations on BlackBerry’s ability to ramp up software and operate more competitively.
Despite the hardware business generating a profit again this previous quarter, BlackBerry realized a larger than forecast drop in hardware revenue to $277.2 million, down 24% quarter over quarter. Credit Suisse continues to…
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