$BlackBerry (BB.US)$ Td Securities analyst Daniel Chan raise...

$BlackBerry(BB.US)$ Td Securities analyst Daniel Chan raised his price target on blackberry to $9 from $8.50 and maintained his underweight rating after the second-quarter results. The analyst said the higher price target reflected a rumored patent sale that was nearing completion and called the quarter "low-quality growth." He had "low confidence" in the proposed patent portfolio, but raised its valuation to $1 billion from $460 million previously. He said he would be more interested in the stock once uncertainty over chip shortages was resolved and blackberry's key performance metrics, such as annual recurring revenue, improved.