Pre-Market News: BlackBerry Ltd(NASDAQ:BBRY), Aruba Networks, Inc.(NASDAQ:ARUN)

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Embattled Canadian smartphone maker BlackBerry Ltd(NASDAQ:BBRY) on Tuesday announced an investment in healthcare IT entity NantHealth, run by billionaire Patrick Soon-Shiong. A statement said details of the intended collaboration are being developed, but both companies said they see “significant opportunities.”

The statement said the companies intend to collaborate on the development of HIPAA and other government privacy certified, integrated clinical systems that transform the delivery of medical care. NantHealth is a cloud-based medical IT provider engaged in the delivery of healthcare for payers, providers and patients through real-time connectivity, high performance computing and 21st century decision support.

Analysts have a consensus price target of $8.50 on BlackBerry Ltd(NASDAQ:BBRY) which indicates a 19% upside. The consensus rating of the stock is a HOLD with a score of 1.75. There are currently 17 Hold ratings, 12 Sell ratings 1 Strong Buy and 2 Buy ratings on the stock.

A recent analyst action consisted of Nomura boosting their price target on the stock from $7 to $9.

Aruba Networks, Inc. (ARUN) has announced that Slocum Dickson Medical Group, an upstate New York health care provider, has replaced its Cisco (CSCO) wired and wireless network with an Aruba Mobility-Defined Network.

The new Aruba infrastructure will allow Slocum Dickson to connect an increasing influx of Wi-Fi-enabled medical devices to their network, enable doctors and staff to provision and use personal devices, and provide secure guest access for the 2,500 patients the provider sees daily.

The organization evaluated options provided by Cisco, Extreme Networks and HP to provide a Mobility-Defined Network.

Shares of ARUN are at 19.98 with a 52-week range of $12.38-$23.58.

Analysts have a consensus price target of $27 on Aruba Networks, Inc.(NASDAQ:ARUN) which indicates a 34% upside. The consensus rating of the stock is a HOLD with a score of 2.33. There are currently 14 Hold ratings, 3 Sell ratings and 12 Buy ratings on the stock.

A recent analyst action consisted of SunTrust initiating coverage on the stock with a $25 price target.

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