BlackBerry earns price target raise at RBC

RBC Dominion Securities analyst Paul Treiber raised his target price for BlackBerry (BlackBerry Stock Quote, Chart, News, Analysts, Financials NYSE:BB) to US$4.50 from US$4.00 in a Sept. 25 note, while maintaining a “Sector Perform” rating.

The Street average is US$4.84.

As reported by the Globe and Mail, Treiber said second-quarter results, released the same day, were stronger than expected and supported by “a stabilizing environment” after macroeconomic and tariff-related uncertainty weighed earlier in the year. He pointed to renewed momentum for BlackBerry’s QNX unit as a key driver, noting that design wins improved in the quarter and “enhance visibility to sustained QNX growth.”

“BlackBerry reported Q2 above RBC/consensus and raised FY26 guidance. The upside reflects demand stabilization following macro/tariff uncertainty at the start of the year. QNX design win momentum rebounded Q2, which improves visibility to sustained QNX growth,” he said. “If QNX’s growth improves further, we believe the valuation multiple of the stock may begin to increase.”

The Waterloo, Ont.-based company reported revenue of US$129.6-million for the quarter ended Aug. 31, up 3% year-over-year, with Adjusted EBITDA of US$25.9-million. Its QNX division posted 15% revenue growth to US$63.1-million, while Secure Communications revenue came in at US$59.9-million. BlackBerry also posted its second consecutive quarter of GAAP profitability, with net income of US$13.3-million.

For fiscal 2026, BlackBerry guided to total revenue of US$519–541-million and Adjusted EBITDA of US$82–101-million.

-30-