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Nokia (NOK) Named Top Equipment Pick at BofA/Merrill Lynch

January 12, 2015 10:36 AM EST
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Price: $3.54 -1.67%

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    20 Buy, 17 Hold, 6 Sell

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BofA/Merrill Lynch analyst Kai Korschelt named Nokia (NYSE: NOK) its top equipment pick for 2015.

The firm reiterated a Buy rating and US$9.10 price target, calling Nokia a unique play on IPR with consolidation optionality lessening its dependence on patchy global wireless capex.

Korschelt expects positive newsflow from improving IPR monetization in China and the conclusion of the Samsung arbitration this year. The analyst also said the Networks 'beat and raise' cycle has legs this year given share gains in the U.S. and Europe, which make the consensus of 1-2% revenue growth look too conservative.

Assuming the company improves IPR monetization from 20bps to 50ps and were to consolidate wireless, they see an estimated potential bull case for EPS of EUR0.6 BY 2017.

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 $7.55 yesterday.



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Kai Korschelt