Nomura Securities Reiterates a 'Reduce' on Nokia (NOK); Lowering PT & Estimates
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Price: $10.76 +1.89%
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities reiterates a 'Reduce' on Nokia (NYSE: NOK), lowers PT from EUR 5.6 to EUR 4.
Nomura analyst, Stuart Jeffrey, said, "We reiterate our rating and cut our px tgt to EUR 4 (16% downside risk) following yesterday’s warning from the company regarding Q2 on the back of which we cut our 2011 and 2012 revenue forecasts by 10% & 15% respectively, which drives EPS in 2011 down from EUR 0.36 to EUR 0.09 and in 2012 from EUR 0.43 to EUR -0.01. In our view, there remains no downside limit to revenues unless Nokia can refresh the sub-$200 segment, which we don’t expect to happen until late 2012 with the launch of Nokia’s first Windows Phone device. We see no value in buying the stock now given the likely deterioration in its competitive position over the next 12 to 18 months."
For more ratings news on Nokia click here and for the rating history of Nokia click here.
Shares of Nokia closed at $7.02 yesterday.
Nomura analyst, Stuart Jeffrey, said, "We reiterate our rating and cut our px tgt to EUR 4 (16% downside risk) following yesterday’s warning from the company regarding Q2 on the back of which we cut our 2011 and 2012 revenue forecasts by 10% & 15% respectively, which drives EPS in 2011 down from EUR 0.36 to EUR 0.09 and in 2012 from EUR 0.43 to EUR -0.01. In our view, there remains no downside limit to revenues unless Nokia can refresh the sub-$200 segment, which we don’t expect to happen until late 2012 with the launch of Nokia’s first Windows Phone device. We see no value in buying the stock now given the likely deterioration in its competitive position over the next 12 to 18 months."
For more ratings news on Nokia click here and for the rating history of Nokia click here.
Shares of Nokia closed at $7.02 yesterday.
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