BlackBerry shares are up 6% (as of this writing) after Societe Generale analyst Andy Perkins made positive note on the company. Perkins has changed his rating on the stock to Buy and gives it a price target of $17 from $13.
The higher rating comes after Perkins’ checks show sales of the BlackBerry Z10 and Q10 may have done better than most expect. “In total, we believe that Blackberry 10 handsets could record sales in excess of 5m units,” says Perkins.
“We believe that this is above consensus which is between 3m and 4m units for the quarter; As for the older units, we still believe there is demand for the 9220, 9320 and 9900 handsets but that this is falling rapidly.”