Slashing hits recommendation Blackberry titles - The Economist

June 19, 2013 – 12:27

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Toronto – BlackBerry shares fell nearly 4% on Wednesday, after an analyst at Bernstein Research cut its recommendation on the shares of the company to “market underperform” before a quarterly earnings report scheduled for next week.

Although Pierre Ferragu, Bernstein said expected disappointing results smartphone maker , other analysts are more optimistic expectations, pointing to even greater volatility in the generally unstable actions.

In recent days, have been ups and downs in the recommendations on the shares of BlackBerry , at a time when the company seeks to regain the market share it has lost to rivals like Apple Inc and Samsung Electronics, with new smartphones that operate with your operating system BlackBerry 10.

“The initial enthusiasm we see in BlackBerry 10 devices seems to be fading now,” said Ferragu in a note to clients. The analyst also lowered his price target for the shares of the company from 15 to 10 dollars.

shares BlackBerry , which will report its results for the first fiscal quarter on June 28, fell 3.6% , to 14.31 dollars on the Nasdaq. The titles came to drop to U.S. $ 6.22 in September last year, but have more than doubled since then.

new devices launched in recent months have received mostly favorable reviews. But the company has not yet released many details on the sales figures.

Societe Generale analyst Andy Perkins last week raised the recommendation of the shares of BlackBerry “sell” to “buy” , arguing that a review showed some figures unexpectedly strong sales of company phones.

RBC Capital Markets Monday raised its estimate for sales of the company in the first quarter to 3.5 million units of the BlackBerry 10, from 2.75 million. The firm expects shipments of 4 million devices operating with BlackBerry 10 system in the current quarter, up from a previous forecast of 3 million units.

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