UPDATE: Raymond James Upgrades Nokia (NOK) to Outperform
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(Updated - January 8, 2019 7:59 AM EST)
(updated to add analyst comments)
Raymond James analyst Simon Leopold upgraded Nokia (NYSE: NOK) from Market Perform to Outperform with a price target of $7.50.
Leopold said the upgrade comes as they envision improving trends led by wireless spending that they believe will aid Nokia's other segments (i.e., routing, optical). Further, Nokia can benefit from a global backlash against Huawei. They see Nokia as advantaged because of the diversity of its portfolio.
Shares of Nokia closed at $6.02 yesterday.
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