Canaccord Genuity Maintains a 'Hold' on Nokia (NOK); Checks: Solid Mobile Phone, Mixed Smart Device Trends
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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) price target lowered from $7.50 to $7.00.
Canaccord analyst, T. Michael Walkley, said, "Our monthly channel checks indicated continued momentum for Nokia’s mobile phone products with mixed smart devices sales. While we are impressed with the Lumia products, sales basically met our modest expectations. However, we are slightly lowering our 2012 and 2013 Nokia estimates due to our lowered Symbian smartphone sales assumptions combined with our belief it will take until H2/12 for Nokia to ramp its Windows smartphones in volume. We believe 2012 remains a challenging transitional year, and we
maintain our rating and lower our price target."
"Due to our lower Symbian assumptions combined with updated F/X
calculations, we are lowering our 2012 EPS estimate from $0.25 to $0.17 and our 2013 EPS estimate from $0.75 to $0.69."
For an analyst ratings summary and ratings history on Nokia click here. For more ratings news on Nokia click here.
Shares of Nokia closed at $5.41 yesterday.
Canaccord analyst, T. Michael Walkley, said, "Our monthly channel checks indicated continued momentum for Nokia’s mobile phone products with mixed smart devices sales. While we are impressed with the Lumia products, sales basically met our modest expectations. However, we are slightly lowering our 2012 and 2013 Nokia estimates due to our lowered Symbian smartphone sales assumptions combined with our belief it will take until H2/12 for Nokia to ramp its Windows smartphones in volume. We believe 2012 remains a challenging transitional year, and we
maintain our rating and lower our price target."
"Due to our lower Symbian assumptions combined with updated F/X
calculations, we are lowering our 2012 EPS estimate from $0.25 to $0.17 and our 2013 EPS estimate from $0.75 to $0.69."
For an analyst ratings summary and ratings history on Nokia click here. For more ratings news on Nokia click here.
Shares of Nokia closed at $5.41 yesterday.
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