Nokia (NOK) Is Worth Less and Less - Analyst
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Price: $3.60 -1.1%
Rating Summary:
10 Buy, 14 Hold, 15 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
10 Buy, 14 Hold, 15 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade NOK Now!
Shares of beaten-down Nokia (NYSE: NOK) are fractionally higher Monday but according to one analyst there is only on direction for the stock to go... and that is down.
MKM Partners slashed its price target on Nokia from $2.00 to $1.50, while reiterating their Sell rating. The firm cited a recent analysis of communications patent transactions.
"Given the ongoing large operating losses and cash burn, we continue to see all of the value of the company in its intellectual property," said analyst Michael Genovese. "We are updating our view of the value of Nokia’s IP based on our analysis of five patent purchase deals that have occurred over the past two years including the recent Intel/IDCC transaction and Google's purchase of Motorola Mobility. As shown on the table on the next page, these deals suggest an average per patent value of $560,000. Applying this number to Nokia's 10,000 issued patent families results in our new $1.50 price target for the stock."
For an analyst ratings summary and ratings history on Nokia click here. For more ratings news on Nokia click here.
Shares of Nokia last trade up 0.5% to $1.85, with a 52 week range of $1.77-$7.38.
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MKM Partners slashed its price target on Nokia from $2.00 to $1.50, while reiterating their Sell rating. The firm cited a recent analysis of communications patent transactions.
"Given the ongoing large operating losses and cash burn, we continue to see all of the value of the company in its intellectual property," said analyst Michael Genovese. "We are updating our view of the value of Nokia’s IP based on our analysis of five patent purchase deals that have occurred over the past two years including the recent Intel/IDCC transaction and Google's purchase of Motorola Mobility. As shown on the table on the next page, these deals suggest an average per patent value of $560,000. Applying this number to Nokia's 10,000 issued patent families results in our new $1.50 price target for the stock."
For an analyst ratings summary and ratings history on Nokia click here. For more ratings news on Nokia click here.
Shares of Nokia last trade up 0.5% to $1.85, with a 52 week range of $1.77-$7.38.
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