Stifel initiated coverage on BlackBerry on June 24. The firm issued a Buy rating and a $12 price target. These actions sparked a significant rally in the company's shares.
BlackBerry reported strong fiscal first-quarter 2027 earnings on June 25. The positive financial results further fueled the stock's price increase.
Stifel argues that investors misperceive BlackBerry as strictly an automotive software supplier. The firm identifies the QNX operating system as a critical layer for the physical AI economy. This sector includes robotics, industrial automation, medical devices, and vehicles.