Action of BlackBerry falls after analyst downgrade recommendation - Administrators

Euan Rocha, Reuters June 19, 2013

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BlackBerry shares fell more than 4 percent on Wednesday after a Bernstein Research analyst cut his recommendation of action to underperform (below the market average) before the release of company’s results next week.

While

Pierre Ferragu of Bernstein, said he hoped the results disappointing smartphone maker, other analysts have more positive expectations, pointing to a further movement of volatile action.

In recent days, there were both increases and relegation to the action, while the BlackBerry seeks to gain back the market lost to rivals like Apple and Samsung with new smartphones equipped with the operating system BlackBerry 10.

“The initial enthusiasm that observed for Blackberry devices 10 now appears to be slowing,” Ferragu said in a report. He cut his price target from 15 to 10 dollars.

analyst at Societe Generale, Andy Perkins, increased its recommendation for BlackBerry to “buy” versus “selling”.

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