June 24, 2016 / 1:21 PM / a year ago

BUZZ-BlackBerry Ltd: Set to open at lowest in more than a month

1 Min Read

** Smartphone maker's U.S.-listed shares down 5 pct at $6.65 premarket; Set to open at lowest in more than a month

** RBC cuts PT to $7 from $8, MKM Partners cuts PT to $7.50 from $8.50; Median PT $7.50

** "We see hardware as essentially worthless, and we continue to question management's decision to stay in this business," analysts at MKM Partners said in a note

** Company reported Q1 net loss of $670 mln, or $1.28 cents a share, which reflected a $501 mln writedown on the value of the handset business and other charges, on Thursday

** Up to Thursday's close, company's TSX listed shares fell 18.9 pct; NASDAQ listed shares fell 20.7 pct over the last 12 months

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