Analyst Downgrades: Nokia Corporation (ADR) (NOK), Lululemon Athletica inc (LULU), and Halliburton Company (HAL)
Analysts lowered their ratings on NOK, LULU, and HAL
by Beth Gaston 9/9/2013 9:17 AM
Analysts have reduced their opinions of Finnish telecom name Nokia Corporation (ADR) (NYSE:NOK), upscale athletic-apparel retailer Lululemon Athletica inc (NASDAQ:LULU), and oil giant Halliburton Company (NYSE:HAL). Here's a quick roundup of today's bearish brokerage notes.
- Nokia Corporation (ADR) remains elevated, after a 31.3% gap higher last Tuesday following reports of its high-profile deal with Microsoft Corporation (NASDAQ:MSFT). On a year-over-year basis, meanwhile, the telecom name has gained more than 103% to trade at $5.37. Despite these developments, the analyst community remains skeptical. This morning, Danske Bank lowered its rating on NOK to "sell" from "buy," and reduced its price target to 3.90 euros from 4 euros. From a broader perspective, just two of the 20 analysts following NOK rate it a "buy" or better, leaving 18 tepid "hold" designations. Also, the consensus 12-month price target of $4.95 sits below the stock's current price.
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