Nomura Securities Maintains a 'Neutral' on Nokia (NOK); N-T Downside Risk Abated, But L-T Remains Unclear
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Price: $10.78 +0.19%
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Nomura Securities maintains a 'Neutral' on Nokia (NYSE: NOK) price target of EUR3.90.
Analyst, Stuart Jeffrey, said, "We retain our rating as near-term downside risk appears to have abated, but the long-term outlook remains unclear. The key issues that cause us to be less cautious than previously but to stop short of upgrading the stock include: 1) A Symbian collapse is now in estimates, limiting near-term EPS risks. 2) The stock is already pricing in Windows Phone taking a 20% share, Nokia taking 60% of this and sustaining a 10% margin, 3) Opportunities seem limited in 2012 for Nokia or Windows Phone to prove that the above outlook is overly conservative due to price, functionality and branding issues. We have cut our 2012 earnings estimate to EUR-0.01 to reflect the deterioration in operating dynamics in H1. The outlook for 2013 and beyond remains unchanged."
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 $5.40 yesterday.
Analyst, Stuart Jeffrey, said, "We retain our rating as near-term downside risk appears to have abated, but the long-term outlook remains unclear. The key issues that cause us to be less cautious than previously but to stop short of upgrading the stock include: 1) A Symbian collapse is now in estimates, limiting near-term EPS risks. 2) The stock is already pricing in Windows Phone taking a 20% share, Nokia taking 60% of this and sustaining a 10% margin, 3) Opportunities seem limited in 2012 for Nokia or Windows Phone to prove that the above outlook is overly conservative due to price, functionality and branding issues. We have cut our 2012 earnings estimate to EUR-0.01 to reflect the deterioration in operating dynamics in H1. The outlook for 2013 and beyond remains unchanged."
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 $5.40 yesterday.
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