Canaccord Genuity Maintains a 'Hold' on Nokia (NOK); Cutting Estimates After Channel Checks Indicate Weakness
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Price: $3.85 -0.26%
Rating Summary:
10 Buy, 14 Hold, 15 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Rating Summary:
10 Buy, 14 Hold, 15 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
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Canaccord Genuity maintains a 'Hold' on Nokia (NYSE: NOK) price target lowered to $5.00.
Analyst, T. Michael Walkley, said, "We are lowering our estimates ahead of Nokia’s Q1/12 earnings report as our checks indicate weak Symbian sales, seasonally soft feature phone sales, and a slow ramp in Windows smartphones. Due to our expectations for a sharp decline in Symbian smartphone sales during 2012 combined with our belief that a competitive smartphone market will result in a steady but slow ramp in Windows smartphone volume, we believe 2012 remains a challenging transitional year for Nokia."
Walkley lowers FY12 EPS estiamte from $0.05 to (0.03) and FY13 from $0.54 to $0.40.
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 $5.11 yesterday, with a 52 week range of $4.46-$9.42.
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Analyst, T. Michael Walkley, said, "We are lowering our estimates ahead of Nokia’s Q1/12 earnings report as our checks indicate weak Symbian sales, seasonally soft feature phone sales, and a slow ramp in Windows smartphones. Due to our expectations for a sharp decline in Symbian smartphone sales during 2012 combined with our belief that a competitive smartphone market will result in a steady but slow ramp in Windows smartphone volume, we believe 2012 remains a challenging transitional year for Nokia."
Walkley lowers FY12 EPS estiamte from $0.05 to (0.03) and FY13 from $0.54 to $0.40.
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 $5.11 yesterday, with a 52 week range of $4.46-$9.42.
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