Canaccord Genuity Cuts Price Target and Estimates on Nokia (NOK); Channel Checks Prove Worthy
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Price: $3.74 --0%
Rating Summary:
10 Buy, 14 Hold, 15 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 3 | Down: 8 | New: 6
Rating Summary:
10 Buy, 14 Hold, 15 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 3 | Down: 8 | New: 6
Trade NOK Now!
Canaccord Genuity maintains a 'Hold' on Nokia (NYSE: NOK) price target lowered from $3.50 to $2.70.
Analyst, Michael Walkley, said, "Consistent with our channel checks for the past several months and cautious stance on Nokia's fundamentals, Nokia lowered its Q2/12 guidance, announced another massive restructuring plan, and replaced several key management team members. Due to our expectations for a continued sharp decline in Symbian smartphone sales during 2012 combined with a slow ramp in Windows (Nasdaq: MSFT) smartphone volume that has a product gap until Q4/12 and continued Mobile Devices pricing pressure, we believe 2012 remains a challenging transitional year for Nokia. "
Walkley, lowers FY12 loss from (0.35) to (0.42) and FY13 from $0.07 to (0.11)
For an analyst ratings summary and ratings history on Nokia click here. For more ratings news on Nokia click here.
Shares of Nokia closed at $2.35 yesterday, with a 52 week range of $2.30-$7.38.
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Analyst, Michael Walkley, said, "Consistent with our channel checks for the past several months and cautious stance on Nokia's fundamentals, Nokia lowered its Q2/12 guidance, announced another massive restructuring plan, and replaced several key management team members. Due to our expectations for a continued sharp decline in Symbian smartphone sales during 2012 combined with a slow ramp in Windows (Nasdaq: MSFT) smartphone volume that has a product gap until Q4/12 and continued Mobile Devices pricing pressure, we believe 2012 remains a challenging transitional year for Nokia. "
Walkley, lowers FY12 loss from (0.35) to (0.42) and FY13 from $0.07 to (0.11)
For an analyst ratings summary and ratings history on Nokia click here. For more ratings news on Nokia click here.
Shares of Nokia closed at $2.35 yesterday, with a 52 week range of $2.30-$7.38.
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