Whether it’s BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s win in the copyright lawsuit against Ryan Seacrest’s keyboard made for iPhones, or the company’s announcement that they will not renew its license with T-Mobile US Inc (NYSE:TMUS) to sell their products after their contract expires on April 25, it is clear that BlackBerry is stealing the headlines this week.
Evercore analyst Mark McKechnie is aware of the waves BlackBerry is making, and was particularly moved recently by the company’s poor Q4 revenue report. Mark downgraded his recommendation from HOLD to SELL BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB), arguing, “BlackBerry is doing all the right things, but we argue it’s 2-3 years late, BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s services business is unfixable versus increased competition, and handsets will struggle to achieve profitability.”
Mark has a keen eye when it comes to the telecommunication market, recommending companies such as BlackBerry with a 67% success rate, as well as Qualcomm, Inc. (NASDAQ:QCOM) and Ciena Corp (CIEN). With TipRanks, you can review all of his past recommendations, as well as other analyst recommendations, and see how he earned his number 10 ranking out of 2480 analysts, as well as an +8.9% average return over S&P-500 and a 67% success rate of recommended stocks.
Mark’s strong portfolio is partly a result of previous BlackBerry recommendations, including his advice to SELL BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) back in June of 2013, in anticipation of the company’s fiscal Q1 report. Mark believed that the company would probably deliver $3.52 billion and 6 cents profit, and that there would be an “outsized reaction from a Street divided. The Street is clearly mixed on the stock, with 8 Buys, 13 Neutrals and 19 Sells, so we’d expect a fairly volatile reaction to the report.” This recommendation earned Mark +29.4% over S&P 500 (INDEXSP:.INX).
The analyst has also seen success recommending other telecommunications companies, including Ciena Corporation (NYSE:CIEN). While one of Mark’s most recent recommendations to BUY Ciena is currently down -7.6% over S&P-500, Mark actually earned one of his highest returns recommending BUY Ciena in June of last year.
Mark’s March 6th recommendation to BUY Ciena Corporation (NYSE:CIEN) followed positive news about the stocks earnings and 17.8% growth in revenue. The stock has taken a small dip but Mark is confident about the “solid number and outlook positioning relative to Architectural shift toward optical versus routers.” However, this recommendation has not yet seen success he saw back in June of 2013, when Mark earned +23.6% over S&P-500 when he recommended BUY Ciena saying, “We are convinced the global capex cycle is “ON” now — Cisco Systems, Inc. (NASDAQ:CSCO) routers up 10% q/q for April, Juniper Networks, Inc. (NYSE:JNPR) yesterday saying they are seeing positive capex trends, and now Ciena’s 100G/OTN ramp starting.”
In addition, Mark’s January recommendation of BUY Qualcomm, Inc. (NASDAQ:QCOM), has earned him +4.6% over S&P-500. Mark adjusted his estimates due to weaker than expected results from Samsung and is already seeing a positive return.
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) might be stealing more headlines this week, so to continue following Mark’s recommendations be sure to download TipRanks, and start making informed decisions with advice you can trust.