CIBC Remains Bullish on BlackBerry Limited (BB)

BlackBerry Limited (NYSE:BB) is one of the best penny stocks to buy according to hedge funds. On October 3, CIBC analyst Todd Coupland reiterated a bullish stance on BlackBerry Limited (NYSE:BB), giving the stock a buy rating with a $6.00 price target.

BlackBerry Limited (NYSE:BB) reported in its fiscal Q2 2026 results that the total company revenue for the quarter surpassed prior guidance at $129.6 million, reflecting a growth of 3% year-over-year.

Management further reported that total company GAAP and adjusted gross margin rose by 4 percentage points year-over-year to 75%. QNX revenue for the quarter also exceeded guidance, achieving a 15% year-over-year growth to $63.1 million.

BlackBerry Limited (NYSE:BB) provides intelligent security software and services. The company’s operations are divided into the following segments: Cybersecurity, Internet of Things (IoT), and Licensing and Other.

While we acknowledge the potential of BB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.