MKM Partners Reiterates a 'Sell' on Nokia (NOK); Take Profits While Stock is Up

July 19, 2012 2:05 PM EDT
Get Alerts NOK Hot Sheet
Price: $4.76 +0.42%

Rating Summary:
    17 Buy, 25 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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MKM Partners reiterates a 'Sell' on Nokia (NYSE: NOK) price target of $1.50.

Analyst, Michael Genovese, suggests selling into today's rally, as the relief will probably be short lived.

Genovese's analysis of the quarter included, "Nokia’s quarterly base of 80mn non-Windows mobile device units is at risk of significant contraction, and Windows Phone 8 remains an uncertain catalyst. The €4.2bn in net cash at the end of 2Q12 could be gone within two years, with half the burn due to operating losses and half due to restructuring related outflows. Our 12-month price target of $1.50 is based solely on our estimate of the value of Nokia’s intellectual property."

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 $1.73 yesterday.

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