Wedbush Cuts Estimates and Price Target on Nokia (NOK); 2012 A Crucial Year
Tweet
Share
E-mailGet Alerts NOK Hot Sheet
Price: $3.64 -0.27%
Rating Summary:
20 Buy, 17 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
20 Buy, 17 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Join SI Premium – FREE
Wedbush maintains a 'Neutral' on Nokia (NYSE: NOK) price target lowered from $4.50 to $3.25.
Analyst, Scott Sutherland, said, "We continue to believe 2012 will be a crucial year as Nokia continues to manage its transition to Windows Phone (Nasdaq: MSFT). While we are lowering our estimates as we see modest demand for Nokia’s current smartphone lineup and encroachment by low-cost competitors in emerging markets, we believe upcoming Windows 8 devices will be a critical determining factor of Nokia’s success in its turnaround. Until then, we maintain our neutral stance."
FY12 EPS estimate lowered from (0.19) to (0.21) and FY13 cut from $0.09 to $0.05. FY12 revs lowered from $42.3 bln to $41.5 bln and FY13 from $42.6 bln to $41.4 bln.
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 $2.82 yesterday.
Analyst, Scott Sutherland, said, "We continue to believe 2012 will be a crucial year as Nokia continues to manage its transition to Windows Phone (Nasdaq: MSFT). While we are lowering our estimates as we see modest demand for Nokia’s current smartphone lineup and encroachment by low-cost competitors in emerging markets, we believe upcoming Windows 8 devices will be a critical determining factor of Nokia’s success in its turnaround. Until then, we maintain our neutral stance."
FY12 EPS estimate lowered from (0.19) to (0.21) and FY13 cut from $0.09 to $0.05. FY12 revs lowered from $42.3 bln to $41.5 bln and FY13 from $42.6 bln to $41.4 bln.
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 $2.82 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Keefe, Bruyette & Woods Upgrades Trustmark (TRMK) to Outperform
- Blue Foundry Bancorp (BLFY) PT Lowered to $8 at Keefe, Bruyette & Woods
- Premier Financial Corp. (PFC) PT Lowered to $23 at Keefe, Bruyette & Woods
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
