Citron Research the short biased firm has a brand new very bullish report on BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB). The full text can be found below.
Citron Research bullish on BlackBerry
The Biggest Tech Investment Opportunity of the Year….
Hiding Right Under Wall Street’s Nose!
Citron Research presents the most compelling opportunity to buy a stock with world class management at the cusp of the “new new thing”. This is a report not to be missed. BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) must change its name back to Research in Motion so investors can realize why this stock is worth AT LEAST $20 a share.
BlackBerry Ltd (BBRY) Our Best Idea in YEARS!
Find out why… The “Internet of Things” is a Bona Fide “Next Big Thing”… and BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s Strategic Place in it …
At Citron, we’re known as investigative short sellers, but really that’s only one part of who we are. At our core, we are always endeavoring to publish the story that the Street doesn’t get…yet. That story may be long or short. And we always consider risks and rewards in any position.
Citron Research introduced this idea in January with a $15 target on the stock. We were excited about new CEO John Chen and the future of their enterprise software business, as well as their other unrecognized and undervalued properties.
That Has All Changed
On May 21st of this year, BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) put out what might have been the most meaningful press release of the past few years in technology – and it was roundly ignored by mainstream financial media.
… It is “The Internet of Things”…
This is not 3D printing, electric cars, or solar energy packaged and promoted for momentum players. This is cloud-computing / Software as a Service/Online Security / Big Data / Healthcare Re-visioned / Mobile Payments – combined. This is the future.
This excellent graphic by Matt Ceniceros is but one way of describing it:
John Chen is one of the strongest and most credible leaders on Wall Street. In executing his multi-billion dollar turnaround at Sybase, he said exactly what he was going to do and then he did it, selling a company that he rescued from near bankruptcy to SAP for $5.8 Billion dollars…. and those were 2010 dollars!
Chen is a man of action who has NEVER been known for hyperbole or overly promotional behavior. This is what he said about BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s new corporate focus:
“Billions of connections, generating trillions of transactions and exabytes of data daily, will require platforms that can operate securely on a global scale. No other company is in a better position than BlackBerry to provide the technological building blocks, applications and services needed to enhance productivity, improve real-time decision making and deliver on the vision of the …
“ Internet of Things ”
— John Chen, CEO BlackBerry May 21, 2014
And to think not one journalist drew him out on this quote yesterday. Rather they harped on whether new BlackBerry handsets will still have keyboard buttons.
After stopping the bleeding and getting the company on sound financial footing, Chen has clearly declared that the “Internet of Things” is the new strategic focus of the company.
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s new strategy positions the company as a key competitor in a rapidly emerging worldwide growth market of immense proportions, one which plays specifically to BlackBerry’s strengths. Even BlackBerry critics would agree that no one is better at delivering large amounts of data on an end-to-end secured platform than BlackBerry. They used to do it by competing in the handset market, but now the connected world is their opportunity. We think this piece in the Canadian press is a highly credible snapshot of where the company is going: