Nomura Securities Maintains a 'Neutral' on Nokia (NOK); New Windows Phones

Nomura Securities maintains a 'Neutral' on Nokia (NYSE: NOK) price target E4.40.

Nomura analyst, Stuart Jeffrey, said, "A look at Nokia’s new Windows Phones, the Lumia 800 and 710, which we believe finally provide the company with a presence in the mid to high-end smartphone market. While the announcements regarding the launch were broadly in line with expectations, we have raised our estimates slightly given that the new phone prices are a little higher than expected. Nokia now needs to convince consumers to turn away from Apple and Android. The stock already appears to price in some success here. We continue to remain cautious on the stock on a fundamental long-term basis and see significant hurdles ahead for the company with a risk that H1 2012 earnings miss expectations."

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

Shares of Nokia closed at $6.77 yesterday.

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