NEW YORK (TheStreet) -- Shares of BlackBerry (BBRY) were gaining 5.5% to $11.11 Monday following CEO John Chen's comments that he's interested in working with partners to expand the company's reach in China.
Chen's comments come after a meeting with Lenovo CEO Yang Yuanqing, Xiaomi CEO Lei Jun, and HTC chairwoman Cher Wang, according to Bloomberg. In an interview with the publication Chen said "It does seem that a more efficient way is to have a good partner to be here. I'm here this time to look at what opportunities there may be."
Chen said that BlackBerry's security, encryption, and privacy features are in demand in China.
Must Read: Warren Buffett's 25 Favorite Stocks
"We have not really focused on this market," the CEO said. "It's a huge market but it's a very highly competitive market too."
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. Among the areas we feel are negative, one of the most important has been an overall disappointing return on equity."