Nomura Securities Maintains a 'Neutral' on Nokia (NOK); Q4 Preview
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Price: $3.64 -0.27%
Rating Summary:
20 Buy, 17 Hold, 6 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
20 Buy, 17 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Nomura Securities maintains a 'Neutral' on Nokia (NYSE: NOK) price target of EUR4.10.
Analyst, Stuart Jeffrey, said, "We expect Nokia to report in-line to slightly better-than-expected Q4 2011 results on Thursday January 26. Further declines in smartphone share, ASPs and gross margin are anticipated, with expectations for Windows Phone (Nasdaq: MSFT) volumes likely modest at around 1.3-1.5m unit. Cash flow may be weaker than typical seasonality, but likely due only to the exceptional improvement seen in Q3. We see downside risk to consensus revenue forecasts for Q1. We see limited Windows Phone traction offset by increased pressure on Nokia’s low-end smartphone portfolio from Android and Samsung in particular. While we remain below expectations on revenue for H2, we also see better opex control than consensus, limiting EPS downside risk. We don’t expect management to provide full-year guidance, but DPS may provide an indication of management’s confidence – with any number above EUR 0.15 likely seen as a positive."
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 $5.67 yesterday.
Analyst, Stuart Jeffrey, said, "We expect Nokia to report in-line to slightly better-than-expected Q4 2011 results on Thursday January 26. Further declines in smartphone share, ASPs and gross margin are anticipated, with expectations for Windows Phone (Nasdaq: MSFT) volumes likely modest at around 1.3-1.5m unit. Cash flow may be weaker than typical seasonality, but likely due only to the exceptional improvement seen in Q3. We see downside risk to consensus revenue forecasts for Q1. We see limited Windows Phone traction offset by increased pressure on Nokia’s low-end smartphone portfolio from Android and Samsung in particular. While we remain below expectations on revenue for H2, we also see better opex control than consensus, limiting EPS downside risk. We don’t expect management to provide full-year guidance, but DPS may provide an indication of management’s confidence – with any number above EUR 0.15 likely seen as a positive."
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 $5.67 yesterday.
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