BlackBerry has morphed into a 'mission critical' player in tech, making it a buy, says Stifel
BlackBerry – maker of the eponymous mobile phones that dominated the early 2000s – has gotten a new life as a critical software supplier for artificial intelligence-linked applications, priming its stock to gain even more ground, according to Stifel. The investment firm initiated coverage of BlackBerry with a buy rating.
It also put a $12 price target on shares, implying 36% from Tuesday's close. "The market still misdefines BlackBerry," analyst Suthan Sukumar said Tuesday in a note to clients.
"This is … a mission-critical software layer in the physical AI stack and a dominant partner to silicon leaders like NVIDIA, Qualcomm, and AMD powering the build-out from cloud to edge, across cars, robots, factories, and medical devices." Shares of BlackBerry have surged 133% year to date as the company continues to refocus its strategy, centering its QNX Software Platform as an infrastructure layer for the automotive, industrial, healthcare and robotics sectors. BB YTD mountain Shares have surged 133% in 2026.
There is currently "no superior alternative" to BlackBerry's software platform, meaning it is likely to continue attracting users – a fact that should boost Blackberry's stock, per Stifel. "Unlike the probabilistic AI running above it, the control layer beneath physical systems cannot fail, and QNX has been that deterministic, safety-certified layer for 40 years," Tk wrote.
"Our due diligence across silicon partners and distributors helps corroborate that there is no superior alternative to QNX's combination of safety certification and real-time performance at scale." Stifel's call goes against consensus on Wall Street. Of the seven analysts covering BlackBerry, six have a buy or strong buy on the stock, LSEG data shows.
BlackBerry shares rose more than 3% following the upgrade.
