Analysts pointed to stronger execution across the company's core businesses and improving financial trends.
- RBC's Paul Treiber doubled his price target on BlackBerry to $9 from $4.50 while maintaining a 'Sector Perform' rating.
- CIBC called the quarter excellent, with both QNX and Secure Communications exceeding expectations.
- Canaccord increased its price target to $10.30 from $8.20 and kept its 'Hold' rating, highlighting faster-than-expected profitability improvements.
BlackBerry Ltd.’s (BB) stock gained premarket after the company received Wall Street support following its fiscal first-quarter 2027 results, which exceeded expectations and prompted several firms to raise their price targets.
RBC And CIBC Raise Targets As BB’s Growth Outlook Improves
Paul Treiber of RBC doubled his price target to $9 from $4.50 while maintaining a ‘Sector Perform’ rating. Treiber said the company delivered its strongest quarterly outperformance in roughly a year and believes BlackBerry is emerging from its turnaround phase into one marked by revenue growth.
Even so, he added that investors will likely look for faster expansion before driving the shares significantly higher.
CIBC raised its price target to $13 from $10 and reiterated its ‘Outperform’ rating. The firm described the quarterly results as excellent, noting that both of BlackBerry's primary operating segments outperformed expectations despite a typically slower seasonal period.
Analysts at CIBC also said they expect the fiscal year to represent a meaningful acceleration in the company's growth trajectory.
BlackBerry’s stock traded over 3% higher in Monday’s premarket after recording its best week in over two years.
TD And Canaccord See Better Fundamentals For BB
TD Securities increased its price target to $8 from $5 while keeping a ‘Hold’ rating. The firm adjusted its forecasts upward following management's positive outlook for both the secure communications business and the QNX software platform.
Analysts also said BlackBerry could benefit if demand for physical AI applications expands, although they cautioned that the stock has already climbed about 100% over the past two months.
Canaccord lifted its price target to $10.30 from $8.20 and maintained a ‘Hold’ rating. The firm said improving profitability stood out during the quarter, with operating leverage developing more quickly than expected as both business segments continued to scale.
Analysts also observed that management's full-year guidance increase remained relatively conservative despite the strong quarterly performance.
BB Retail Traders View
On Stocktwits, retail sentiment around the stock remained in ‘bullish’ territory. The stock saw 209% increase in message volume over the past week, with a 0.4% rise in watchers.
A user said, “I have no choice but to buy as much as I can tmr. ER call was just too good.”
Another user said, “The deployment for SDV once it happens, there is no turning back and there is very little competition against QNX. Therefore the speed of revenue increase can happen very rapidly. Dont wait for that day to come.”
BB stock has surged 200% year-to-date.
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