The Blackberry Comeback Story Continues

BlackBerry Ltd BBRY continued its bullish momentum on Monday when the company announced a new deal with Ford Motor Company F to expand the use of the QNX operating system in Ford automobiles.

Following Monday’s 8.7 percent gain, BlackBerry shares are now up more than 63 percent in 2017. The company’s restructuring efforts to transition from the smartphone company of old to a mobile security services provider appear to be paying off for investors.

The Ford deal is just one in a series of recent positive headlines for BlackBerry. The stock surged last week after fears related to the WannaCry ransomware virus drew attention to the cybersecurity space. Last month, BlackBerry shares surged following news that the company would receive $814.9 million from QUALCOMM, Inc. QCOM to settle a dispute over patent infringements. Investors are hoping more settlements could be on the way from similar disputes with Avaya, Nokia Ojy (ADR) NOK and others.

Related Link: Blackberry Still A 2-3 Year Investment Story

In addition to positive headlines, BlackBerry has also been delivering on the bottom line. The company has reported three consecutive earnings beats. While revenue remains down 92.0 percent in the past five years, the company has re-positioned itself for a return to growth in the years ahead.

“BBRY can be the intelligent infrastructure system provider for the new collar industry, which we think could be 10 percent of [a] $200 billion infrastructure spend, or $20 billion,” Global Equities Research analyst Trip Chowdhry said of BlackBerry back in March. Chowdhry predicts that BlackBerry will return to profitability by 2018 and makes for an excellent two- to three-year investment opportunity.

In the meantime, BlackBerry’s positive trading momentum could carry the stock to new highs in the months ahead. The stock hasn't traded in the $11 handle since July 2014.

Joel Elconin contributed to this article.