Canaccord Genuity Maintains a 'Hold' on Nokia (NOK); Updating Model for Restated Financials, Lowering 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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Canaccord Genuity maintains a 'Hold' on Nokia (NYSE: NOK), PT lowered to $7.50 from $8.
Canaccord analyst says, "We have updated our estimates following the
publication of Nokia’s restated divisional financials. While we maintain our belief the NOK/MSFT partnership is best positioned to potentially create a third viable smartphone ecosystem, we are increasingly concerned about Nokia’s Device and Services division during the transition period...We are lowering our 2011 revenue estimate from €38.6B to €38.1B and our pro forma EPS estimate from $0.20 to $0.16, our 2012 estimates from €39.7B/$0.28 to €39.1B/$0.23 and our 2013 estimates from €44.9B/$0.83 to €43.3B/$0.74."
For more ratings news on Nokia click here and for the rating history of Nokia click here.
Shares of Nokia closed at $5.56 yesterday.
Canaccord analyst says, "We have updated our estimates following the
publication of Nokia’s restated divisional financials. While we maintain our belief the NOK/MSFT partnership is best positioned to potentially create a third viable smartphone ecosystem, we are increasingly concerned about Nokia’s Device and Services division during the transition period...We are lowering our 2011 revenue estimate from €38.6B to €38.1B and our pro forma EPS estimate from $0.20 to $0.16, our 2012 estimates from €39.7B/$0.28 to €39.1B/$0.23 and our 2013 estimates from €44.9B/$0.83 to €43.3B/$0.74."
For more ratings news on Nokia click here and for the rating history of Nokia click here.
Shares of Nokia closed at $5.56 yesterday.
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