Ericsson's Warning Suggests Soft Demand for Nokia (NOK), But Material Miss Unlikely - Wells Fargo
Get Alerts NOK Hot Sheet
Rating Summary:
20 Buy, 17 Hold, 6 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 15 | Down: 8 | New: 36
Join SI Premium – FREE
Wells Fargo analyst Maynard Um weighed in on Nokia (NYSE: NOK) following Ericsson's (NASDAQ: ERIC) third quarter warning, which suggests a soft demand environment.
Um said with Nokia set its earnings date for October 27 they believe a material miss may be unlikely, which could be explained by potential share gains and/or better relative trends in China vs the beginning of the year.
They forecast Nokia’s Mobile Networks revenue will decline 12% y/y in Q3 and decline 7% y/y in Q4.
They also believe the broader pressures in the end markets will continue to limit material upside potential to NOK and think restructuring/synergy details will be important.
The maintain a Market Perform rating on NOK.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- SAP Q1 results fall short of Wall Street estimates as transformation kicks off
- Chicopee Bancorp (CBNK) Tops Q1 EPS by 1c
- KBR, Inc. (KBR) PT Raised to $83 at Stifel
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Earnings, Wells FargoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!