UPDATE: Oppenheimer Upgrades Nokia (NOK) to Perform; It's All About Windows 8

June 15, 2012 7:09 AM EDT
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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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(Updated - June 15, 2012 8:40 AM EDT)

Oppenheimer upgraded Nokia (NYSE: NOK) from Underperform to Perform.

Analyst, Ittai Kidron, said, "Nokia is in a tough spot. But at this point we believe this is priced in. What is still unknown is how Windows 8 (Nasdaq: MSFT) changes Nokia's outlook. Since we won't know the answer until 4Q12, we feel shorting further here is risky. Thus, we're upgrading to Perform."

Kidron raises FY12 EPS estimate from (0.26) to (0.30), but lowers FY13 from $0.06 to (0.10).

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 $2.35 yesterday.

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