TORONTO: Shares of BlackBerry rose more than 7% on Wednesday after Morgan Stanley upgraded the stock and doubled its price target for shares of the smartphone maker, as it sees the company's new BlackBerry 10 devices boosting margins.
The brokerage firm did a double upgrade on BlackBerry's stock, bumping it to "over weight" from "under weight," saying that it now believes the firm's handset unit can support itself moving forward and will no longer have to rely on its services arm to support it.
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