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Technology Stocks : Nokia (NOK)
NOK 7.340+3.6%Feb 11 3:59 PM EST
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To: Eric L who wrote (25169)6/10/2003 1:03:57 PM
From: Ramsey Su  Read Replies (4) of 34857
 
This guy must have listened to a different CC. I personally don't understand how he arrived at a target of $12. Way too high. These damn analysts are always so positive.

8:53AM WFS downgrades NOK from Hold to Sell (NOK) 17.96: Wells Fargo Securities downgraded Nokia from Hold to Sell citing downside risk as significant and establishing a $12 price target. The analyst believes the co is appropriately valued at 16.0x FY04 EPS estimate of $0.75 per share or $12.00 with no positive catalysts for the co in the foreseeable future. Specific risks in owning the shares are described as financial risks of new mobile system orders being pushed out or if customers become insolvent, the costs associated with leading edge R&D and being able to recruit top talent.
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