Needham & Company Maintains a 'Hold' on Nokia (NOK); It’s Darkest Before the Dawn

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July 22, 2011 7:40 AM EDT
Get Alerts NOK Hot Sheet
Price: $10.76 +1.89%

Rating Summary:
    24 Buy, 13 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Nokia (NYSE: NOK).

Needham analyst says, "The good news is that Nokia reported a modest second quarter profit despite sharp sequential declines in its smartphone and mobile phone shipments. The bad news is that declines are likely to continue for two more quarters...To reflect the deteriorating competitive landscape, we’re reducing our 2011 earnings estimate from €0.65 to €0.20 and our 2012 estimate from €0.90 to €0.45."

For more ratings news on Nokia click here and for the rating history of Nokia click here.

Shares of Nokia closed at $6.13 yesterday.

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