Analysts: BlackBerry Merger Less Likely and 3 More Research Notes to Check Out

BlackBerry (NASDAQ:BBRY): FBR Capital believes an acquisition of BlackBerry is less likely with Fairfax Financial’s deadline for completing due diligence on Monday. FBR lowered its probability assumptions that a deal will close to 40 percent from 70 percent and dropped its price target for BlackBerry shares to $6.50 from $8. The firm sees BlackBerry’s true fundamental value at around $5 per share and keeps an Underperform rating on the stock.


Allstate Corp. (NYSE:ALL): RBC Capital believes that Allstate can continue to report better-than-expected results in 2014 after the company reported better-than-expected third-quarter results, in part due to light catastrophe losses; the firm keeps an Outperform rating on Allstate stock.


Cisco Systems (NASDAQ:CSCO): After conducting channel checks and supply chain analysis, Oppenheimer expects Cisco’s results for its October quarter to come in at the low end of guidance; the firm expects the company to be hurt by weakness in emerging markets and the federal government, but it keeps a $27 price target and Outperform rating on Cisco stock.


Accenture PLC (NYSE:ACN): RW Baird continues to recommend Accenture as it becomes harder to find high-quality companies at reasonable valuation; the firm cited the company’s potential for accelerating growth, mixed sentiment, and attractive relative valuation. Shares of Accenture are Outperform rated and carry an $86 price target.


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