U.S. Tough To Crack for BlackBerry and 2 Other Heavily Traded Stocks
BlackBerry (NASDAQ:BBRY): Current price $15.02
Analyst Tavis McCourt at Raymond James reiterates a Market Perform and a valuation range of $7 to $17 on BlackBerry, based on his “sum of the parts” model. McCourt estimates that the firm sold 1 million BB10 devices in the fiscal fourth quarter ending in February, at an average price of $450, and 8 million devices for the quarter overall. His financial estimate surpasses McKechnie’s, at $3 billion in revenue and a 17-cent loss. Furter, he says that the United States is a tough market, even with record initial sales in Canada, commenting that “AT&T (NYSE:T) has announced that it will launch the Z10 on March 22 with Verizon Communications (NYSE:VZ) following soon after on March 28. Sprint (NYSE:S) will not carry the Z10 and wait till the Q10 launch in June. We believe BBRY’s launch in the strategically important US market will run into intense competition as Samsung, Apple (NASDAQ:AAPL), HTC, and Nokia Corporation (NYSE:NOK) refresh their line-ups,” according to Barron’s.