BlackBerry price target raised to $3.25 from $3 at RBC Capital

RBC Capital raised the firm’s price target on BlackBerry (BB) to $3.25 from $3 but keeps a Sector Perform rating on the shares. The company’s sale of Cylance comes at a higher than expected takeout price and eliminates a major overhang on BlackBerry’s shares, though even without Cylance, BlackBerry is still seeing relatively slow growth given its Secure Communications business and the soft auto market for BlackBerry’s IoT segment, the analyst tells investors in a research note.