Know anyone who still uses a Blackberry? Neither do we, but that's no reason to avoid it as a stock, according to Keith Bliss, senior vice president and director of sales & marketing at Cuttone & Co., Inc, who talked to International Business Times from the floor of the New York Stock Exchange.
BlackBerry Ltd. shares rose over 3 percent on Wednesday to $10.90 following the company’s global unveiling of the BlackBerry Passport smartphone. Bliss says there are three key things that investors should watch in the coming year from the Waterloo, Ontario based company: enterprise users, future acquisitions and security.
“BlackBerry is at the forefront of telephony and data security when it comes to their services on the enterprise level, especially around governments in the Middle East and in Asia," Bliss said. “Acquisitions in the future will be more down along the line of those enterprise capacity that they do for governments and businesses and I really think they’re going to try and lock in that market.”
Bliss, a frequent guest analyst on CNBC and Fox Business, previously worked at Citibank, LaBranche Financial Services LLC. and Knight Trading Group.
While Bliss said the downside risk to the stock is pretty limited, he cautioned that investors should wait and see what the financials look like on Friday until making any big bets. “John Chen is signing the right tune and if he’s good to his word the company will turn around in a year,” Bliss added.
BlackBerry is scheduled to report fiscal 2015 second-quarter earnings on Friday before U.S. markets open.