Canaccord Genuity Lowers Estimates on Nokia (NOK) After Attending Windows 8 Smartphone Launch

Canaccord Genuity maintains a 'Hold' on Nokia (NYSE: NOK) price target of $2.60.

Analyst, T. Michael Walkley, said, "We attended the Nokia and Microsoft (Nasdaq: MSFT) joint press conference and were impressed with the Lumia 920 and 820 Windows Phone 8 smartphones. However, Nokia and Microsoft comments suggest Windows Phone 8 software will take one to two months to complete and the new Lumia smartphones will ship in Q4/12 to limited markets."

Citing a more limited launch, Walkley lowers FY12 EPS estimate from (0.38) to (0.39) and FY13 from (0.09) to (0.12)

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 $2.38 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Stantec Inc. (STN:CN) (STN) PT Lowered to Cdn$169 at Desjardins
• Indigo Paints (INDIGOPN:IN) PT Raised to INR1,300 at ICICI Securities