Blackberry Shareholders May Benefit from Analyst Channel Check

Preliminary figures indicate some degree of success in the U.S. market for the Z10

| More on:
The Motley Fool

Jefferies’ analyst Peter Misek and his $19.50 target is clearly bullish on Blackberry (TSX:BB,NASDAQ:BBRY).  Some figures released this morning might just help to get the stock on track to reaching that level.

This morning’s blurb indicates that according to Jefferies’ channel checks, the new Blackberry Z10 is selling just as well at Verizon outlets as it is AT&T.  These checks indicate approximately 200,000 Z10 units have been sold since the product launched at Verizon on March 28th.

200,000 unit sales in a week or so sounds rather modest and is probably a figure that Apple’s management doesn’t even think exists.  “They meant 200 million units, right?”  However, it at least indicates some degree of interest in the U.S. consumer market for Blackberry’s new product.  Any indication of sales exceeding the market’s seemingly low expectations for the Z10 is sure to light a fire under this stock.

In addition, it’s important to keep in mind that the retail consumer is not necessarily Blackberry’s bread and butter in the U.S.  More telling will be the traction the Z10 is having with the corporate world.

In the grand scheme of things, the Jefferies’ channel check is likely to amount to nothing more than noise, but if Blackberry’s stock opens the day in the green, this report is a likely cause.

Blackberry continues to be nothing more than a gamble and its shares should be treated as such.  However, Canadian investors deserve to own great businesses and the U.S. market is home to some of the best in the world.  We have created a special FREE report that identifies 3 U.S. businesses that are worthy of your hard-earned investment dollars.  Simply click here to receive “3 U.S. Stocks Every Canadian Should Own” – FREE!

Follow us on Twitter and Facebook for the latest in Foolish investing.

Fool contributor Iain Butler does not own shares in any of the company’s mentioned.  The Motley Fool has no positions in the stocks mentioned above.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

More on Investing

funds, money, nest egg

Retirees: 3 Canadian Stocks You Can Confidently Own for the Next 20 Years

Here's why retirees need to plan beyond 20 years in retirement. Fortis Inc. (TSX:FTS), Royal Bank of Canada (TSX:RY) stock…

Read more »

Question marks in a pile
Tech Stocks

Should You Invest in Absolute Software Stock Right Now?

Absolute Software (TSX:ABST) is a tech stock that is worth your attention, as it offers exposure to exciting security markets.

Read more »

Dividend Stocks

1 Oversold Dividend Stock I’d Buy in December 2022

Here’s one of the best Canadian dividend stocks to buy in December that I find undervalued.

Read more »


FOR TUESDAY – 3 TSX Stocks to Buy Today and Hold for the Next 3 Years

Given their growth prospects, these three TSX stocks could outperform over the next three years.

Read more »

Supermarket aisle with empty green shopping cart
Stocks for Beginners

Is Dollarama Stock a Buy at All-Time Highs?

Dollarama stock (TSX:DOL) remains at all-time highs while the rest of the market drops. Does this mean it's due to…

Read more »

Online shopping
Tech Stocks

Should You Buy Shopify Stock If the Rate Hike Cycle Slows?

Is SHOP stock a buy after its 72% drop this year?

Read more »

A bull outlined against a field

2 Canadian Stocks Set to Soar in a New Bull Market

Consider Sleep Country Canada Holdings (TSX:ZZZ) stock and another mid-cap bargain, as the bear market moves on.

Read more »

Gold bars
Metals and Mining Stocks

Better Buy: Newmont or Barrick Gold Stock?

If you think better days are ahead for gold miners, consider exploring gold stocks Newmont and Barrick Gold.

Read more »