November 19, 2018 / 12:31 PM / 2 years ago

BUZZ-Blackberry Ltd: Gains after CIBC upgrades on Cylance deal

** U.S.-listed shares of Canada’s BlackBerry up 2 pct at $9.15 premarket after CIBC upgrades to “outperform” from “neutral”

** BlackBerry, which dominated the smartphone market a decade ago, acquired cybersecurity company Cylance for $1.40 bln last week, to expand into autonomous cars and artificial intelligence

** BlackBerry’s growth profile has improved with the acquisition of Cylance, CIBC analyst Todd Coupland says

** BB’s three growth vectors are securing vehicles with QNX, securing devices for the Enterprise of Things, and managing and securing the final stage with its new platform Spark

** Cylance will operate as a standalone business unit and add to Blackberry’s EoT and Spark platform over time - Coupland

** Brokerage expects QNX’s design wins in advanced driver-assistance systems (ADAS) and digital cockpit to support double-digit rev growth into next year

** 6 of 14 brokerages rate the stock “buy” or higher, 6 “hold” and 2 “sell”; their median PT is $11

** Up to Friday’s close, NYSE-listed shares of BlackBerry have fallen 20 pct this year (Reporting by Amy Caren Daniel in Bengaluru)

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