Analysts Continue to Lose Faith in Nokia (NOK)

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Wall Street continues to lose faith in Nokia (NYSE: NOK). As the latest example, Jefferies downgraded the handset maker Tuesday from Hold to Underperform with a EUR1.19 target.

This marks the seventh downgrade since mid-April and comes ahead of second quarter results on Thursday, July 19th. The negative rates have accumulated as the company's turnaround plan is slow to take hold.

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 $1.80 yesterday, with a 52 week range of $1.77-$7.38.

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