RBS Cuts Nokia (NOK) from Buy to Sell

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An analyst at RBS downgraded shares of Nokia (NYSE: NOK) all the way from Buy to Sell this morning. The firm reduced its price target on the stock from €10 to €5.80.

RBS calls Nokia's strategy shift to OS "painful" and also notes that it expects to see substantial disruption through 2012.

The firm reduced its FY11 and FY12 EPS estimates on Nokia by about 40%.

Nokia shares are getting whacked this morning, down about 4% to $8.81 with about an hour and a half left in pre-market action.

For more ratings news on Nokia click here and for the rating history of Nokia click here.

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