Oppenheimer maintains Perform rating citing belief FY16 will be another transition year
- Firm believes BBRY has put in place the best strategy to return the company to growth, and several recent initiatives/partnerships will contribute to this. However, they see it taking time and ultimately believe FY16 (ending Feb. '16) will be another transition year primarily due to weak hardware device sales.
- Firm lowers their FY15 and FY16 revenues/EPS from 4.26B/-$0.09 and $5.20B/$0.42 to $3.61B/-$0.22 and $3.16B/-$0.49 respectively, based on lower device sale assumptions and service revenues contribution.