Zacks Investment Research upgraded BlackBerry (BB) to "Strong-Buy" from "Hold" in a research report issued Tuesday. The firm added BlackBerry to its list of new "Strong Buy" stocks on July 15.
The upgrade follows BlackBerry's recent fiscal first-quarter results. The company surpassed analyst expectations for both revenue and earnings.
The company reported a 25.6% year-over-year revenue increase.
Zacks noted the consensus earnings estimate for the next fiscal year has risen over the past 60 days. This rise is a key factor in its rating system.
Despite the upgrade, the overall analyst consensus for BlackBerry remains a "Hold."