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Re: Sunsetblow post# 7690

Wednesday, 05/15/2013 10:33:39 AM

Wednesday, May 15, 2013 10:33:39 AM

Post# of 16335
It actually a downgrade to market perform.

Analyst Actions: Update - Alliance Bernstein Downgrades Blackberry To Market Perform; Lack of Catalysts Next 6 Months; Stock Down 2%
MidnightTrader

09:25 AM EDT, 05/15/2013 (MidnightTrader) -- According to Alliance Bernstein (AB), Blackberry (BBRY) has been in transition with its launch of "BB10." However, the analyst believes that pent up demand for the new platform is now baked into consensus estimates, and he doesn't see new catalysts in the next 6 months. Therefore, Alliance is recommending that investors stay on the sidelines.

The analyst downgrades BBRY to Market Perform from OutPerform. He is also lowering his price target to $15 from $22 based on a valuation of 9x FY14 EPS.
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