BlackBerry Ltd. shares surged nearly 11 per cent on the Toronto Stock Exchange after a research report identified the company as a likely target for an acquisition.
BlackBerry (TSX:BB) shares reached a high of $15.82 in Thursday morning trading – up 10.78 per cent.
The company ended the day at $15.42.
(Sponsored)
SnowBall 2026: A premier networking event with purpose returns to 50 Sussex Dr.
As winter settles in across the capital, one of Ottawa’s most high-profile charitable and business networking events is set to return to its roots: On Wed., March 4, 2026, The
Uniting for heart health: A community movement reignites this February
February is Heart Month is here! The Ottawa Heart Institute Foundation has not skipped a beat in preparing for this highly anticipated opportunity for individuals, groups, and businesses to raise
The jump came after Citron Research published a report saying the company’s shares are likely to reach US$20 on the Nasdaq within 24 months. On Thursday, the former smartphone maker’s shares on the U.S. exchange were trading at US$11.61.
The report also said the company is a likely buyout target at a sizable premium, highlighting BlackBerry’s “virtually completed” transition from hardware maker to focusing on its software business.
Citron Research, an online stock commentary website led by Andrew Left, wrote that BlackBerry’s QNX software, which is installed in about 60 million vehicles, makes the company an attractive acquisition target for Qualcomm, Nvidia or NXP Semiconductors.
BlackBerry’s shares have been on the rise recently after positive analyst commentary.
In mid-May, Macquarie Research analyst Gus Papageorgiou said in a note that the company’s shares could rise to US$45 by 2020. His 12-month Canadian-dollar target is $16.20.
