Citi Trims Target on Sell-Rated Nokia (NOK) to EUR 3.80 Ahead of Q4 Resultss; Sees Weak Smartphone Numbers

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Citi cuts its price target on Nokia (NYSE: NOK) from €4.00 to €3.80 ahead of fourth-quarter results tomorrow. The firm is keeping its Sell rating on the stock.

Citi cites expectations for weaker smartphone shipments and gross margin compression on smartphone sales. Also, Citi sees "significant" execution risks ahead for Nokia.

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 $5.27 yesterday, with a 52 week range of $4.46-$11.75.

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