Standpoint Starts Nokia (NOK) at Buy; Calls Stock 'Oversold'

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Standpoint Research initiated coverage on Nokia (NYSE: NOK) shares with a Buy rating and a $12 price target.

The firm noted that although Nokia is currently "losing market share, it remains the largest mobile phone manufacturer globally." Standpoint believes shares have been oversold recently.

With Nokia shares last trading at $9 even, Standpoint's new price target suggests potential upside of about 33 percent.

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

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