BlackBerry shares briefly jump after Citron sets $15 target

TORONTO Fri Jan 17, 2014 2:17pm EST

A Canadian flag waves in front of a Blackberry logo at the Blackberry campus in Waterloo, September 23, 2013. REUTERS/Mark Blinch

A Canadian flag waves in front of a Blackberry logo at the Blackberry campus in Waterloo, September 23, 2013.

Credit: Reuters/Mark Blinch

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TORONTO (Reuters) - Shares of beleaguered Canadian smartphone maker BlackBerry Ltd (BB.TO) jumped briefly in active afternoon trading on Friday after a Citron Research note praised the company's recent strategic direction and issued a $15 price target.

BlackBerry's New York-listed shares jumped about 20 cents shortly before 1 p.m. ET (1800 GMT), immediately after Citron Research tweeted a link to its report.

The stock briefly topped $9, but fell back, and was last up 3.5 percent for the day at $8.86.

Citron is run by California-based investor Andrew Luck, who is better known for short-selling stocks.

(Reporting by Alastair Sharp and Allison Martell; Editing by Jeffrey Hodgson and Chizu Nomiyama)

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