The Globe and Mail reports in its Thursday, Oct. 19, edition that CIBC World Markets analyst Todd Coupland has reaffirmed his "neutral" recommendation for BlackBerry. The Globe's David Leeder writes in the Eye On Equities column that Mr. Coupland gave his share target a 75-cent trim to $4.75 (all figures U.S.). Analysts on average target the shares at $5.25. Mr. Coupland says in a note: "Blackberry's summit in New York provided known technology updates on the value of its Cyber and IoT units and the company's convergence strategy. The IoT subsidiary IPO for 20-30 per cent of the unit is planned for June 2024 with the S-1 expected in the spring of 2024. A near-term sale of the Cyber business appears unlikely as the company revealed Cyber's lack of growth and profitability meant it had only received unattractive offers. Finally, no update on CEO John Chen's plans was provided, as conversations between he and the board have yet to take place on his contract which expires on November 3. Both the Cyber and IoT units continue to face headwinds and are negative for Blackberry's share price. Chen confirmed that IoT would experience 'a dent in its rebound,' but reaffirmed an expectation for record revenues in FQ4."