RBC Capital Markets analyst Paul Treiber maintained a Sector Perform rating on BlackBerry Ltd (NYSE:BB) but reduced the price target from $4.50 to $4 after Q3 earnings beat. BlackBerry's earnings were at one cent per share, surpassing the expected loss of three cents per share, with revenue at $175 million against a $173.53 million estimate. However, Q4 revenue is projected to be below estimates, between $150 million and $159 million, compared to expected $200.37 million. Concerns include decreased visibility for near-term momentum and potential need for expensive or dilutive financing as cash declines. Treiber also lowered FY24 and FY25 revenue and EPS estimates. BlackBerry shares fell 14.02% to $3.53.