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Investing.com - RBC Capital has reiterated its Sector Perform rating and $4.00 price target on BlackBerry Limited (NYSE:BB) ahead of the company’s second-quarter earnings report, scheduled for September 25. According to InvestingPro data, BlackBerry currently trades at $4.30, with a market capitalization of $2.56 billion and a notably high P/E ratio of 250.6.
The firm believes BlackBerry may report Q2 results slightly above both RBC and consensus expectations, citing a more stable macroeconomic environment than what was reflected in the company’s "relatively conservative guidance." InvestingPro analysis shows the company has been profitable over the last twelve months, though 2 analysts have recently revised their earnings expectations downward.
RBC Capital expects BlackBerry to maintain its fiscal year 2026 revenue guidance while potentially raising its FY26 adjusted EBITDA guidance due to "continued cost restraint" measures.
The firm maintained its Sector Perform rating on BlackBerry stock, noting that the company’s valuation will likely "remain discounted pending improved visibility to sustained growth."
BlackBerry is expected to report its second-quarter financial results in the coming weeks, though no specific date was mentioned in the analyst’s commentary.
In other recent news, BlackBerry Limited has announced a partnership between its QNX division and NVIDIA for the DRIVE AGX Thor development kit, aimed at advancing autonomous vehicle technology. The integration of QNX OS for Safety 8 with NVIDIA’s hardware is a significant step in combining automotive-certified operating systems with cutting-edge generative AI capabilities. BlackBerry also made headlines with the appointment of Barry Mainz, a seasoned cybersecurity expert, to its Board of Directors, bringing decades of experience in technology leadership. Additionally, BlackBerry’s annual shareholder meeting resulted in the election of all seven director nominees, with directors like Lisa Bahash and Lori O’Neill receiving strong approval ratings. Meanwhile, Medtronic plc appointed Chad Spooner as the CFO for its diabetes business, MiniMed, as it prepares for a spinoff. Spooner brings over 25 years of financial leadership experience, previously serving as CFO at BIC. These developments reflect ongoing strategic moves by both companies in their respective industries.
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