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BBRY Stock Surging as Morgan Stanley Doubles Price Target

Research In Motion Limited

I just had to use this as an example of how analyst expectations are all over the place for BlackBerry stock. Ehud  Gelblum, a managing director of technology at Morgan Stanley, just changed his rating of BBRY stock from overweight to underweight with a price target of $22 up from a previous $10. Gelblum still thinks it is “unlikely that BlackBerry 10 will become a ‘strong’ third alongside iOS and Android but believes there may be room for a niche midrange player.” He also stated that a reason for the upgrade is because developers are no longer completely writing off the BlackBerry 10 OS and rather taking a “wait and see approach.”

He thinks that BBRY will report results “well above consensus this year” so he is planning for an exciting financial results call from BlackBerry next week. Should be interesting to see how this all plays out.

Anyone want to take bets on what the next analyst will say? We can usually count on the rocket scientists at Canaccord to come up with some linkbait expectations. :)

via Bloomberg

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