BlackBerry: Morgan Stanley resumes coverage, shares down

(CercleFinance.com) - Morgan Stanley has resumed coverage of the BlackBerry stock with an "equal weight" rating and a target price of 10 dollars, saying that the Canadian group's auto business remains key to a bull case.


While the acquisition of artificial intelligence and cybersecurity company Cylance should accelerate software growth, it will take time for cross-selling opportunities to arise, MS writes in a note.

According to the broker, the BlackBerry Technology Solutions (BTS, or auto) business indeed remains a key upside driver over the next few years.

BlackBerry shares were down 1.2% at 9.2 dollars after these comments.

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