Canaccord Raises BlackBerry (BB) Price Target, Keeps Hold Rating

BlackBerry Limited (NYSE:BB) is one of the 10 Best Tech Stocks To Buy Under $5. On June 25, Canaccord Genuity increased its price target on BlackBerry Limited (NYSE:BB) from $4.25 to $4.60 but kept its “Hold” rating.

The research firm made this change because it expects BlackBerry Limited’s (NYSE:BB) business to improve for the rest of the calendar year 2025. Canaccord analysts also noted that the company’s new strategies are expected to become more focused. BlackBerry Limited’s (NYSE:BB) positive adjusted EBITDA gives it more organic and inorganic investment opportunities.

Canaccord Raises BlackBerry (BB) Price Target, Keeps Hold Rating

A research engineer surrounded by hardware, demonstrating the company’s secure container offerings.

Canaccord pointed out that the company has an $865 million backlog for its QNX platform. This presents significant revenue opportunities in the future. However, the firm expressed uncertainty about when this will lead to faster growth in the company’s IoT segment, especially because there are concerns about auto tariffs.

The research firm also highlighted that less than half of BlackBerry Limited’s (NYSE:BB) QNX revenue in fiscal year 2025 came from North America. Markets like medical devices, industrial automation, and robotics made up 18% of QNX revenue during the same period.

Finally, Canaccord’s updated sum-of-parts analysis of BlackBerry Limited’s (NYSE:BB) business segments reflects the company’s growth potential and better financial health. The firm noted that the general embedded opportunity already represents 43% of the company’s pipeline for SDP 8.0. This is ahead of planned investments in sales and marketing to boost sales in those areas.

BlackBerry Limited (NYSE:BB) is a Canadian software and services company that serves governments and enterprises, including major automakers and industrial giants, with its intelligent and high-performance foundational software.

While we acknowledge the potential of BB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.