BlackBerry Ltd
BB: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 5.70 | Zcjg | Ldwynnbbn |
BlackBerry: Negative Preliminary Results Don't Change Our Valuation
We maintain our $4.90 fair value estimate for shares of no-moat BlackBerry after the firm announced preliminary results for its fiscal second quarter. BlackBerry’s fiscal quarter ended on Aug. 30, and its official earnings call is set for Sept. 27. The preliminary results included worse cybersecurity sales than guided, which wasn’t totally surprising to us, and a downward revision to the full-year outlook for the Internet of Things business.