Baird analyst Luke Junk initiated coverage of BlackBerry with a Neutral rating and $7 price target. He is positive on the company’s auto software platform, which is meeting an industry inflection point, and believes BlackBerry IVY “could be the start of something big,” but cybersecurity is the larger business and remains in “wait-and-see mode,” so he sees in-line performance as the likely outcome over the next 12 months, Junk tells investors.
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