Jefferies has a "buy" rating on BlackBerry shares with a price target of $19.50, which is almost 30 percent upside to the current price.
"Our calls [of Blackberry] are not based on the new Z10, but their software and services business," said Misek. Blackberry's software helps manage iPhone, Android, Blackberry and Windows devices for corporate clients.
"The big announcement yesterday—the one we think the market is missing—AT&T said their enterprise sales force, which is tens of thousands of people, is going to be selling BlackBerry Enterprise Service 10," he said, "We think that is a really big deal and that where the future cash flow is."
BlackBerry shares price spiked on Monday after the announcement AT&T will sell the Z10, but even if the new model sells well in the U.S. the fierce competition makes the profit margins very narrow, Misek said.
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The launch of the new model was better than expected, the analyst commented, but he does not see the same success in the U.S. as internationally. The Z10 was sold out in the Middle East and Asia and did very well in Europe.
"Ultimately Lenovo or some other manufacturer will buy their handset business," he said, projecting that it will probably happen in the next 12 months.