Danske Upgrades Nokia (NOK) to Buy, PT Raised 107%

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November 23, 2012 7:55 AM EST
Get Alerts NOK Hot Sheet
Price: $10.63 -1.76%

Rating Summary:
    26 Buy, 12 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 6 | New: 39
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On Thursday, Danske upgraded Nokia (NYSE: NOK) from Sell to Buy saying the outlook for 2013 is improving based on demand for Windows 8 phone and stronger-than-expected early results for the Lumia 920.

The firm said that while reports of sell-outs of the Lumia 920 is likely due to low initial shipments, underlying demand is strong due to the quality of the device. Nokia is able to scale-up production quickly if required, they also note. They raised 2013 WP8 shipment estimates by 57% to 36 million.

The price target raised 107% to EUR2.9.

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 $3.31 yesterday.

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