Nomura Securities Maintains a 'Neutral' on Nokia (NOK); Windows 8 Launch May Slow Downward Spiral

July 20, 2012 9:58 AM EDT
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Price: $4.75 --0%

Rating Summary:
    17 Buy, 25 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Nomura Securities maintains a 'Neutral' on Nokia (NYSE: NOK) price target of EUR1.90.

Analyst, Stuart Jeffrey, said, "Downward spiral of EPS cuts may pause with Windows 8 in Q4 – but upside still elusive. In guiding for a 5% to 13% EBITA loss in Q3 Nokia may have limited the scope for a further miss to estimates. Net cash was €300m better than we expected and management clearly stated its strong focus on cash generation. The launch of Windows 8 (Nasdaq: MSFT) in late October may boost the visibility of Windows Phone devices. We estimate fair value of Nokia at €1.9 on a sum-of-the parts basis but expect the stock to trade at a discount to reflect the risk that Windows Phone adoption does not hit critical mass."

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 $1.85 yesterday.

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