BlackBerry is drawing renewed investor attention after a BluBird Capital report highlighted its QNX software is embedded in 275 million vehicles and other safety-critical systems, prompting a reassessment of the stock's rich valuation. The shares recently traded at about CA$14.97, down 3.2% on the day, yet the 90-day return stands at 133.2% and the year-to-date return at 186.8%. A widely followed narrative pegs fair value at CA$16.22, implying the stock is 7.7% undervalued, while another view points to a price-to-earnings multiple of 104.5 times, well above a fair ratio of 27.7 times and the North American software industry average of 29.1 times.
BlackBerry LtdBluBird report highlights QNX embedded in 275M vehicles, prompting valuation reassessment; stock down 3.2% on day but up 133% quarterly, with conflicting fair value and P/E views.