BlackBerry Q1 Beat Spurs Target Hikes to $9, $13 and $10.30
BB•Following BlackBerry's Q1 fiscal 2027 beat, RBC doubled its target to $9 from $4.50, and CIBC raised its to $13 from $10 with an Outperform rating. TD lifted its target to $8 and Canaccord to $10.30, highlighting quicker profitability gains after both QNX and Secure Communications exceeded expectations.
1. Q1 Results Exceed Estimates
BlackBerry reported fiscal Q1 2027 results that topped consensus forecasts, driven by strong contributions from both its QNX software platform and Secure Communications segment. The outperformance marked the company’s best quarter in over a year, prompting analysts to reassess growth prospects.
2. Analyst Price Target Revisions
RBC’s Paul Treiber doubled his price target to $9 from $4.50 while keeping a Sector Perform rating. CIBC lifted its target to $13 from $10 with an Outperform rating. TD Securities increased its target to $8 from $5 and Canaccord to $10.30 from $8.20, all reflecting improved fundamentals.
3. Profitability and Growth Outlook
Analysts highlighted faster-than-expected operating leverage as both segments scaled, with profitability gains emerging earlier than forecast. Management raised guidance modestly for the full year, and firms noted potential upside if demand for physical AI applications expands, supporting the recent premarket 3% stock gain.
