Morgan Stanley Remains Circumspect On BlackBerry Ltd

In a report published Thursday, Morgan Stanley analyst James E. Faucette reiterated an Equal-Weight rating on BlackBerry Ltd (NASDAQ: BBRY).

In the report, Morgan Stanley noted, “At the Passport launch, an affable CEO John Chen made the case that the Passport (a device we judge to be destined for a niche in a niche) is just the first small step toward leaving restructuring behind; we remain circumspect.”

BlackBerry Ltd closed on Wednesday at $10.51.