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!
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.
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