Blackberry (BB) received a new “Buy” rating from Stifel yesterday. Analysts initiated coverage with a $12 price target, indicating potential upside of nearly 35% from current levels.
The bullish call came just ahead of BB’s fiscal Q1 earnings release on June 25, which featured a 26% year-over-year increase in revenue to $153 million on a better-than-expected $0.04 per share of earnings.