Morgan Stanley Upgrades Nokia (NOK) and Alcatel-Lucent (ALU) to Overweight
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Morgan Stanley upgrades Nokia (NYSE: NOK) and Alcatel-Lucent (NYSE: ALU) to Overweight, citing valuation after recent stock declines.
The firm said Nokia is trading at a record low of 8.9x estimated 2009 EPS.
Morgan Stanley started coverage on Ericsson (Nasdaq: ERIC) with an Underweight.
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