Morgan Stanley Sees Acquisitions Becoming Key To Hitting Revenue Targets For BlackBerry

In a report published Monday, Morgan Stanley analyst James E. Faucette reiterated an Underweight rating and $7.00 price target on BlackBerry Ltd (NASDAQ: BBRY).

In the report, Morgan Stanley noted, "BlackBerry Q4 results beat earnings estimates through better cost management and tax benefits, but fell far short on revenue as device sales continue to slow. Getting to stated targets increasingly looks like it will need to come via acquisition."

Related Link: BlackBerry Could Be An M&A Target For These 10 Companies

BlackBerry closed on Friday at $9.46.