BlackBerry Ltd (NYSE:BB) shares are rising Thursday. An equity analyst launched coverage with a bullish rating. Here’s what you should know.
- BlackBerry stock is gaining positive traction. Why are BB shares climbing?
AmerX Initiates BlackBerry Coverage With a Buy Rating
AmerX analyst Casey Ryan opened coverage of BlackBerry on Thursday with a Buy rating and a $13.50 price target. The fresh endorsement may be lifting shares.
Ryan expects QNX sales to accelerate as automotive customers consume more of it and physical AI customers in many industries adopt it more widely. QNX is BlackBerry’s real-time operating system designed for safety-critical systems where reliability is essential.
Ryan also thinks physical AI could change BlackBerry’s long-term picture. Compared with the current operating model, it could speed revenue and earnings growth, enlarge the market opportunity and widen margins.
How AmerX Values BlackBerry Stock
AmerX built the $13.50 target from peer comparisons. Ryan measures BlackBerry against royalty-based chip and software companies, which Ryan considers the best benchmark. AmerX applies a premium price-to-earnings multiple of 50 to its fiscal 2029 earnings estimate of 27 cents per share. That math yields the target.
Peers anchor the premium. Technology companies with strong intellectual property and royalty-based models trade at 49.5 times estimated fiscal 2027 earnings and 38 times estimated fiscal 2028 earnings. A smaller group of those peers trades at 49 times fiscal 2029 estimates.
The analyst argues BlackBerry should command more than those peers. Physical AI, Ryan says, could lift the company’s long-term growth, market opportunity and earnings power. That reasoning ties the Buy rating to QNX acceleration and physical AI.
BB Shares Are Rising
BB Price Action: BlackBerry shares were up 1.60% at $8.91 at the time of publication on Thursday, according to Benzinga Pro.
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