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BlackBerry undefined was downgraded at Raymond James today to "Market Perform" from "Outperform" with an $11 price target.

Analysts at the firm caution investors that they are merely "tapping the brakes" on the stock as shares of BlackBerry have gained over 40% since Raymond James last upgraded the stock in August 2016.

The firm now sees "limited return to target" regarding the stock's potential. 

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On Friday, BlackBerry said that it would receive $940 million from Qualcomm (QCOM) - Get QUALCOMM Incorporated Report as part of an arbitration settlement, which the analysts believe Blackberry can use in purchases to accelerate its goal of $1 billion in software revenue.

Shares of BlackBerry were lower over 3.5% during mid-morning trading on Tuesday.

Stocks have rebounded following a sharp sell off last week. Jim Cramer believes the rebound is real and gives investors advice on how to play the market going forward.