Wedbush Cuts Estimates and Price Target on Nokia (NOK); 2012 A Crucial Year
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Price: $3.65 +1.39%
Rating Summary:
10 Buy, 14 Hold, 15 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
10 Buy, 14 Hold, 15 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade NOK Now!
Wedbush maintains a 'Neutral' on Nokia (NYSE: NOK) price target lowered from $4.50 to $3.25.
Analyst, Scott Sutherland, said, "We continue to believe 2012 will be a crucial year as Nokia continues to manage its transition to Windows Phone (Nasdaq: MSFT). While we are lowering our estimates as we see modest demand for Nokia’s current smartphone lineup and encroachment by low-cost competitors in emerging markets, we believe upcoming Windows 8 devices will be a critical determining factor of Nokia’s success in its turnaround. Until then, we maintain our neutral stance."
FY12 EPS estimate lowered from (0.19) to (0.21) and FY13 cut from $0.09 to $0.05. FY12 revs lowered from $42.3 bln to $41.5 bln and FY13 from $42.6 bln to $41.4 bln.
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 $2.82 yesterday, with a 52 week range of $2.68-$8.22.
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Analyst, Scott Sutherland, said, "We continue to believe 2012 will be a crucial year as Nokia continues to manage its transition to Windows Phone (Nasdaq: MSFT). While we are lowering our estimates as we see modest demand for Nokia’s current smartphone lineup and encroachment by low-cost competitors in emerging markets, we believe upcoming Windows 8 devices will be a critical determining factor of Nokia’s success in its turnaround. Until then, we maintain our neutral stance."
FY12 EPS estimate lowered from (0.19) to (0.21) and FY13 cut from $0.09 to $0.05. FY12 revs lowered from $42.3 bln to $41.5 bln and FY13 from $42.6 bln to $41.4 bln.
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 $2.82 yesterday, with a 52 week range of $2.68-$8.22.
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