Will This Price Target Increase Help BlackBerry (BBRY) Today?

NEW YORK (TheStreet) -- BlackBerry (BBRY) has had its 12-month price target increased to $8.50 from $8, UBS said Monday. The firm maintained a "neutral" rating. 

UBS said while the company is stemming losses, it remains wary of BlackBerry's long-term potential given how competitive the enterprise mobile management space is. 

"The enterprise mobile management (EMM) space remains very competitive; we question the value in BBM, BBRY's mobile messaging platform; and QNX is too small to meaningfully affect
financials today," said analyst Amitabh Passi in the report. 

"We remain concerned about the profitability in hardware given BBRY lacks scale," Passi continued. 

By midday Monday, shares had taken off 1.7% to $8.27. 

Must Read: Warren Buffett's 10 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreet Ratings team rates BLACKBERRY LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate BLACKBERRY LTD (BBRY) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

FTC Chair Says Agency Is Ready to Take on Big Tech; Walgreens Joins Dow -- ICYMI

FTC Chair Says Agency Is Ready to Take on Big Tech; Walgreens Joins Dow -- ICYMI

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Zoom CEO Eric Yuan Leads Glassdoor's List of Top 100 CEOs

Zoom CEO Eric Yuan Leads Glassdoor's List of Top 100 CEOs

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists