Canaccord Genuity Maintains a 'Hold' on Nokia (NOK); Cutting Estimates After Channel Checks Indicate Weakness
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Price: $10.76 +1.89%
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
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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 to $5.00.
Analyst, T. Michael Walkley, said, "We are lowering our estimates ahead of Nokia’s Q1/12 earnings report as our checks indicate weak Symbian sales, seasonally soft feature phone sales, and a slow ramp in Windows smartphones. Due to our expectations for a sharp decline in Symbian smartphone sales during 2012 combined with our belief that a competitive smartphone market will result in a steady but slow ramp in Windows smartphone volume, we believe 2012 remains a challenging transitional year for Nokia."
Walkley lowers FY12 EPS estiamte from $0.05 to (0.03) and FY13 from $0.54 to $0.40.
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 $5.11 yesterday.
Analyst, T. Michael Walkley, said, "We are lowering our estimates ahead of Nokia’s Q1/12 earnings report as our checks indicate weak Symbian sales, seasonally soft feature phone sales, and a slow ramp in Windows smartphones. Due to our expectations for a sharp decline in Symbian smartphone sales during 2012 combined with our belief that a competitive smartphone market will result in a steady but slow ramp in Windows smartphone volume, we believe 2012 remains a challenging transitional year for Nokia."
Walkley lowers FY12 EPS estiamte from $0.05 to (0.03) and FY13 from $0.54 to $0.40.
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 $5.11 yesterday.
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