Nomura Securities Maintains a 'Neutral' on Nokia (NOK); Is this the Bottom? - Temporarily Perhaps

June 14, 2012 10:36 AM 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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Nomura Securities maintains a 'Neutral' on Nokia (NYSE: NOK) price target of EUR3.20.

Analyst, Stuart Jeffrey, said, "Nokia announced a major restructuring this morning. The key take-aways in our view are: 1) Consensus estimates for Q2 and Q3 likely need to fall; 2) Nokia’s ambitions in the feature phone market appear to have waned; 3) Cash concerns will likely remain – but do not seem critical to us; and 4) The timing of Windows Phone 8 launches remains unclear."

"We still see scope for the stock to stabilize and trade up later this year as new all-touch feature phones ship and Windows Phone 8 is launched. However, we still view this as no more than a short-term trade at present and see continued risks to near-term estimates that mean buying now may prove premature."

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 $2.79 yesterday.

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