RBC Capital Markets bumps up its target for BlackBerry's shares but views the risk-reward as less attractive in light of the sharp rally the stock has seen. The Canadian tech company reported its largest earnings beat in the last year for 1Q, thanks to what RBC's Paul Treiber says was solid development seat license sales at its QNX unit and perpetual license revenue at its Secure Communications business. "While quarters may be lumpy due to one-time revenue, BlackBerry is moving into a period of headline growth following a period of transformation." RBC's target rises to $9 from $4.50 but it maintains a sector perform call. BlackBerry jumps 9%. (robb.stewart@wsj.com)
Dow Jones Newswires
BlackBerry Target Lifted by RBC Though Shares Have Already Jumped — Market Talk
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RBC Capital Markets bumps up its target for BlackBerry's shares but views the risk-reward as less attractive in light of the sharp rally the stock has seen. The Canadian tech company reported its largest earnings beat in the last year for 1Q, thanks to what RBC's Paul Treiber says was solid develop…