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Fly News Breaks for March 9, 2015
BBRY
Mar 9, 2015 | 05:49 EDT
Goldman Sachs cuts its rating on BlackBerry shares to Sell from Neutral saying its new price target of $9 implies 16% downside from current share levels. Goldman believes the smartphone maker's turnaround is entering a more challenging phase as it shifts from cutting costs to revenue growth. It sees the company�s results in 2015 falling short of expectations. Goldman points out shares of BlackBerry are up 60% since John Chen became CEO in November 2013. The stock closed Friday down 22c to $10.67.
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