"After stopping the bleeding and getting the company on sound financial footing, [CEO John] Chen has clearly declared that the "Internet of Things" is the new strategic focus of the company," analysts wrote in the note.
Shares continue to rally after a positive quarterly report a day earlier. By midday, the stock is up 6.1% to $9.64.
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Separately, 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 several weaknesses, 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."
- You can view the full analysis from the report here: BBRY Ratings Report