Nomura Securities Maintains a 'Neutral' on Nokia (NOK); Expectations May Build Into Windows Phone 8
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Price: $10.56 --0%
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 7
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 7
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Nomura Securities maintains a 'Neutral' on Nokia (NYSE: NOK) price target raised from EUR3.9 to EUR4.0
Analyst, Stuart Jeffrey, said, "After a weak H1, expectations may build into Windows Phone 8 (Nasdaq: MSFT) launch by year-end. Nokia’s share price has performed strongly in advance of Mobile World Congress (next week). We believe pressures on financials are unlikely to lift in Q2, with sequential gains in Q3 likely driven solely by restructuring. Downside risk to estimates remains meaningful, in our view. The concurrent launches of Windows 8 and Windows Phone 8 in September or October provide scope for investors to upgrade their view of Nokia’s competitive position. While a good investment story may emerge late this year, Windows Phone may struggle to deliver on its Q4 promise in 2013. We thus view Nokia as a trading stock for the next 12 months, with a positive bias for H2 2012 before a possible retrenchment in H1 2013. We raise our TP to EUR 4.0 from EUR 3.9 after rolling forward the basis for our calculation from 2012 to 2013."
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 $5.58 yesterday.
Analyst, Stuart Jeffrey, said, "After a weak H1, expectations may build into Windows Phone 8 (Nasdaq: MSFT) launch by year-end. Nokia’s share price has performed strongly in advance of Mobile World Congress (next week). We believe pressures on financials are unlikely to lift in Q2, with sequential gains in Q3 likely driven solely by restructuring. Downside risk to estimates remains meaningful, in our view. The concurrent launches of Windows 8 and Windows Phone 8 in September or October provide scope for investors to upgrade their view of Nokia’s competitive position. While a good investment story may emerge late this year, Windows Phone may struggle to deliver on its Q4 promise in 2013. We thus view Nokia as a trading stock for the next 12 months, with a positive bias for H2 2012 before a possible retrenchment in H1 2013. We raise our TP to EUR 4.0 from EUR 3.9 after rolling forward the basis for our calculation from 2012 to 2013."
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 $5.58 yesterday.
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