On June 26, BlackBerry rose 5.03% in regular trading, trading at $11.22/share, with turnover of $218 million.

On the news front, Raymond James significantly raised its target price on BlackBerry from $4.75 to $9.50, representing a 100% increase, reflecting a fundamental reassessment of the company's business outlook. The upgrade followed BlackBerry's better-than-expected FY2027 Q1 earnings released earlier the same day. Total revenue reached $152.9 million, up 26% year-over-year and well above the consensus estimate of $138 million. Adjusted EPS came in at $0.04, beating expectations. The core QNX division delivered revenue of $72.3 million, surging nearly 26%. The company also raised its full-year revenue guidance to $594-$621 million and projected adjusted EBITDA of $119-$139 million. Notably, this marked BlackBerry's first positive operating cash flow in a fiscal Q1 in nine years. The combination of a strong earnings beat, raised guidance, and a major institutional target price upgrade collectively boosted market confidence and drove the stock higher during the session.

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