Courtesy of Benzinga.
One of the ghosts of a bygone era in smartphones may soon be rising from the dead. Global Equities Research analyst Trip Chowdhry recently explained why he believes BlackBerry Ltd (NASDAQ: BBRY) could be on the comeback trail.
According to Chowdhry, BlackBerry is well positioned to play a central role in President Donald Trump’s proposed $1 trillion infrastructure spending initiative.
“BBRY can be the intelligent infrastructure system provider for the new collar industry, which we think could e 10% of [a] $200 billion infrastructure spend, or $20 billion,” Chowdhry says. New collar jobs are next-generation jobs that are a hybrid of blue collar (trade) jobs and white collar (professional) jobs.
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The firm’s bullish outlook for BlackBerry stock occurs on a 2-3 year time horizon. In the meantime, Chowdhry says the company’s quarterly earnings and revenue mean “nothing.”
“Our bullish investment thesis on BBRY is based on its charismatic leader Dr. John Chen and his ability to create another phenomenal success at BlackBerry, similar to that of Sybase, while leveraging President Trump’s $1 trillion infrastructure spend,” Chowdhry adds.
In addition to the infrastructure spending initiative, he sees the rise of applied machine learning, liquid computing and “new collar” jobs as key drivers for BlackBerry in years ahead.
Global Equities Research has an Overweight rating and an $11 price target on BlackBerry stock.
Latest Ratings for BBRY
Date | Firm | Action | From | To |
---|---|---|---|---|
Sep 2016 | Goldman Sachs | Maintains | Sell | |
Sep 2016 | Credit Suisse | Maintains | Underperform | |
Sep 2016 | Morgan Stanley | Maintains | Equal-Weight |
View More Analyst Ratings for BBRY
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