TD Securities last night downgraded BlackBerry (BB) to Hold from Buy with a price target of $5, up from $4, after resuming coverage of the name. The firm likes the “new” BlackBerry’s growth profile and expanding margins, but sees the shares as fairly valued following the 61% rally since December 2024. In addition, while the macro backdrop has improved, it remains somewhat volatile, the analyst tells investors in a research note.
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