Everyone knows BlackBerry (NYSE:BB) is in dire need of a sugar daddy. However, the investing community remains sharply divided about just how much the struggling Canadian smartphone maker is actually worth.

Analyst estimates vary to a nearly comical degree, ranging from $5 on the low end, to as high as $20. And, while the company's true worth its obviously up for debate, most agree the company still has several truly valuable assets under its umbrella, one of which is its BBM messaging franchise. Many believe the BBM could, and should, be spun out as an independent company, as the mobile messaging space, in general, is still ripe for consolidation. But, as is the case with BlackBerry as a whole, just how much a BBM spin-off would fetch BlackBerry shareholders is anyone's guess. 

One bold analyst recently made waves, claiming BBM is worth at least $5 a share, or roughly half of BlackBerry's current share price. In this video, tech and telecom analyst Andrew Tonner puts this valuation for BBM under the microscope for review.

Fool contributor Andrew Tonner has no position in any stocks mentioned. Follow Andrew and all his writing on Twitter at @AndrewTonnerThe Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.