Shares of smartphone maker Blackberry
, Stock Forum
) jumped 5% to $9.85 in active trading Friday after a Citron Research note praised the company’s recent strategic direction and issued a $15 price target.
Citron is run by California-based investor Andrew Luck, who is better known for short selling stocks.
At current levels, Blackberry has a market cap of $5.2 billion, based on 524.6 million shares outstanding. The 52-week range is $18.49 and $5.79.