BlackBerry Ltd. Price Target Updated By Goldman Sachs

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BlackBerry Ltd. Price Target Updated By Goldman Sachs
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Canadian listed BlackBerry price target has been updated by Goldman Sachs analysts Simona Jankowski, Doug Clark and Balaji Krishnamurthy in a report dated July 7, 2014, to reflect the 12 month forward USD CAD rate of 1.07, which was earlier assumed at 1. Now, the price target moves to C$11 from C$10 earlier.

No change in rating

It must be noted that the target has been changed for the Canadian listed BB.TO while for BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) remains unchanged at US$10.

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Goldman Sachs note that any merger and acquisitions, declining market share and declining services are risks to the price target they have set. The 12-month price target is based on the fundamental sum-of-the-parts valuation, which carries 70% weight, while the remaining 30% is for M&A component. Analysts have not changed the neutral rating on BlackBerry Ltd. (NASDAQ:BBRY) (TSE:BB).

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