Oppenheimer Comments On Meeting With BlackBerry's CFO

Andrew Uerkwitz of Oppenheimer on Thursday summarized in a note details of a recent meeting with BlackBerry Ltd's (NASDAQ: BBRY) Chief Financial Officer James Yersh.

Uerkwitz notes that the executive denied the speculation of a takeout bid by Samsung, but did talk about creating strong partnerships with Samsung to unlock further value. The analyst does add his belief there Is potential interest in BlackBerry as an acquisition target but “do not expect anything immediate.”

Uerkwitz notes that the company has plenty of liquidity and is steadfast in executing its the strategy and creating value for shareholders.

Yersh touted the early success of the company's turnaround and pointed out that recent product launches, including the Passport and the Classic were received well based on customer feedback. However, the analyst does state that he is cautious on the hardware segment but has become more confident in the company's ability to execute its software strategy.

Bottom line, Uerkwitz believes that fiscal 2016 will be another transition year for the company due to “multiple moving parts” and that a downside risk exists for Software revenues due to shrinkage in installed base.

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