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TRADE ALERT- Blackberry Stength a Selling Opportunity- Bernstein (BBRY)

In light of today’s 7 percent move in the premarket, Bernstein says that traders should sell Blackberry (NASDAQ: BBRY) on today’s strength. The note said that it’s unlikely that the company will be acquired because of its size and continued loss in both enterprise and consumer markets. Further, it says that today’s news indicates further operational issues.

Citigroup (NYSE: C) also released a note saying that today’s announcement to form a special committee is proof that BB10 has not met expectations. The firm keeps a sell rating on the stock with a $9 price target.

The stock is down more than 16 percent year to date.

[stock-tools exchange="NASDAQ" symbol="BBRY" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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