BlackBerry price target raised to $4 from $3.75 at RBC Capital

RBC Capital raised the firm’s price target on BlackBerry (BB) to $4 from $3.75 and keeps a Sector Perform rating on the shares. The company’s Q1 results were above estimates on better than expected Secure Comms and QNX revenue, and the management’s outlook is conservative and still assumes an uncertain auto and macro environment, the analyst tells investors in a research note. BlackBerry is seeing good pipeline growth, but its visibility to auto production is low and new deals may be pushed out, RBC added.