Danske Lowers Nokia (NOK) to Neutral; Sees ASP Lower on Increased Mid-Range Device Sales
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Price: $10.15 --0%
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Nokia Oyj (NYSE: NOK) had moved off of session highs Wednesday amid an earlier downgrade by Standpoint Research and Danske Bank cutting the stock to Hold as well.
Danske trimmed its price target on Nokia by 12 percent to €3.45. The firm commented that the average selling price (ASP) for Nokia handsets will slip given that a higher number of mid-range phones are expected to be sold. Demand for Nokia's feature phone are also likely to stall following the fourth-quarter of 2012.
Danske had previously upgraded shares of Nokia from Sell to Buy on November 22nd.
Nokia will release fourth-quarter results Thursday. The company issued preliminary fourth-quarter numbers on January 10th, sending shares ripping higher.
The stock is up 1.2 percent today.
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 $4.62 yesterday.
Danske trimmed its price target on Nokia by 12 percent to €3.45. The firm commented that the average selling price (ASP) for Nokia handsets will slip given that a higher number of mid-range phones are expected to be sold. Demand for Nokia's feature phone are also likely to stall following the fourth-quarter of 2012.
Danske had previously upgraded shares of Nokia from Sell to Buy on November 22nd.
Nokia will release fourth-quarter results Thursday. The company issued preliminary fourth-quarter numbers on January 10th, sending shares ripping higher.
The stock is up 1.2 percent today.
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 $4.62 yesterday.
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