Nordea Upgrades Nokia (NOK) to Strong Buy; Sees Break-Even in Mid-2013

February 15, 2013 6:50 AM EST
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Price: $5.84 +1.57%

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    20 Buy, 16 Hold, 7 Sell

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Nordea raised its rating on Nokia (NYSE: NOK) to Strong Buy from Buy, while setting a price target of €4.

Better availability of Lumia 820 and 510 models should rectify fourth-quarter shipment issues, Nordea said Friday morning. The firm sees Nokia showing off new product at Mobile World Congress in Barcelona, Spain, on February 25, which includes a new flagship Lumia smartphone for Verizon (NYSE: VZ) as well as a Windows RT tablet.

Though Nokia's royalty commitments to Microsoft (MSFT) exceed remaining payments due, Nordea thinks there will be limited impact with Nokia not recognizing all payments received in its P&L statement.

Looking ahead, Nordea sees Nokia hitting a break-even point in the middle of 2013.

Into the open, Nokia is indicated back above the $4 level.

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 $3.98 yesterday.

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