That’s according to Wells Fargo analyst Maynard Um, who raised his estimate on BlackBerry’s valuation range and slightly lifted his revenue estimate for fiscal 2015, which begins in March. He said that by fiscal 2016, the company could see higher cash flow from adjustments made to the business.
BlackBerry, under new CEO John Chen, is still trying to figure itself out after making some major shifts in the company. Chen has essentially wiped out the old guard in the management ranks, focused the company more on its enterprise customers, and struck deals with suppliers such as Foxconn to build cheaper phones. The moves come after the BlackBerry 10 operating system failed to capture the attention of consumers.
Most recently, Andrew Bocking, head of BlackBerry’s BBM messenger business, said he would leave the company. More