1 hour ago
5
Key Highlights
- BB shares climbed approximately 7% during pre-market hours following news that QNX’s Alloy Kore system secured its inaugural commercial partnership with Coretura, a software-defined vehicle firm supported by Daimler Truck and Volvo Group.
- CNBC’s Jim Cramer recommended buying BlackBerry shares, highlighting the company’s strategic shift toward automotive and robotics software solutions.
- The company’s Q2 fiscal 2027 financial results are set to be released on September 24, just two days from now.
- RBC Capital maintained its Sector Perform stance with a $9.00 target, suggesting revenue may exceed market expectations.
- Analyst Suthan Sukumar from Stifel Canada maintains a Buy recommendation with a $12 target, emphasizing ongoing QNX design-win traction.
BlackBerry shares experienced an approximately 7% increase during Tuesday’s pre-market session, propelled by a significant commercial achievement for its QNX business segment, a prominent media recommendation, and analyst insights released before the upcoming earnings announcement.
The primary driver was a collaboration announcement involving QNX, the company’s embedded software division, and its partner Vector. The partnership successfully brought on Coretura as a client for the Alloy Kore solution. Coretura operates as a software-defined vehicle enterprise jointly established by Daimler Truck and Volvo Group.
This represents the initial design win for Alloy Kore following the product’s market introduction. The development demonstrates that the solution is gaining commercial acceptance beyond traditional passenger cars and extending into the heavy-duty commercial trucking sector.
Jim Cramer from CNBC contributed additional momentum with a buy recommendation, emphasizing BlackBerry’s growing emphasis on automotive and robotics software solutions. This endorsement arrived just before the company’s scheduled Q2 fiscal 2027 earnings release on September 24.
Shares were changing hands at approximately $9.12 during pre-market activity, representing a gain of roughly 6.9% compared to the previous closing price of $8.53.
The overall market provided minimal support. The S&P 500 advanced just 0.1%, the Dow gained 0.3%, and the Nasdaq remained virtually unchanged. Automotive software competitors including Mobileye and Aptiv showed negligible movement, indicating the surge was uniquely BlackBerry-driven.
Wall Street Perspectives
Paul Treiber from RBC Capital maintained a Sector Perform assessment alongside a $9.00 price objective. This target suggests approximately 19% potential downside from the September 18 closing value of $11.16.
Treiber observed that BlackBerry historically provides cautious quarterly projections, and actual performance could surpass consensus forecasts for both revenue and adjusted EBITDA.
Suthan Sukumar from Stifel Canada presents a more optimistic outlook. He maintains a Buy recommendation with a $12 price objective, characterizing BlackBerry as an essential software component within what he identifies as the physical AI infrastructure.
Sukumar has maintained that design-win activity throughout the QNX division will continue expanding, and the Coretura partnership appears to validate this perspective.
Earnings Spotlight
With Q2 financial results arriving in just two days, market participants seem to be establishing positions ahead of the announcement. The stock remains significantly below its 52-week peak of $13.59, providing potential upside if results exceed expectations.
RBC anticipates a solid quarter driven by the QNX business unit. The firm acknowledges that Secure Communications revenue might stabilize following a robust previous quarter.
The convergence of the Alloy Kore commercial win, Cramer’s public endorsement, and dual analyst commentaries in rapid succession generated a focused pre-market environment heading into the earnings event.
The post BlackBerry (BB) Stock Jumps 7% Following Major QNX Partnership and Analyst Endorsement appeared first on Blockonomi.
English (US) ·