Nokia Corporation (ADR) (NYSE:NOK) Stock Upgraded To An “Outperform” From A “Sector Perform”: RBC Capital Analysts
Written by David Randall on September 12, 2013
American Banking & Market News reported that Merrill Lynch upgraded Nokia Corporation (ADR) (NYSE:NOK) from a “neutral” rating to a “buy” rating in a research note issued on Wednesday. On Wednesday, the company traded higher by 5.12%, hitting $5.95. From company’s stock, 81,399,568 shares changed hands. Nokia has a one year high of $5.68 and a one year low of $2.52. The stock has 200-day moving average is $3.76 and its 50-day moving average is $4.29. The company has a market cap of $22.088 billion.
Recently, a number of other analysts have commented on company’s stock. Analysts at RBC Capital upgraded company’s shares to an “outperform” rating from a “sector perform” rating in a research note to investors on Wednesday. Now, they have a price target of $2.00 on the stock, lower priory from $7.00. Separately, analysts at Berenberg Bank upgraded company’s shares to a “buy” rating from a “sell” rating in a research note to investors on Wednesday. Finally, analysts at Morgan Stanley maintained an “equal weight” rating on the stock in a research note to investors on Thursday, September 5th.
Five research analysts have given the stock a sell rating, twenty have given a hold rating and eleven have rated the stock as buy. Currently, on average the stock is rated as “Hold”, having an average price target of $4.73. On Thursday, July 18th, company last reported its quarterly earnings data. For the quarter, the company reported $0.00 earnings a share, striking the analysts’ consensus estimate of by $0.02. The company had revenue of $5.70 billion. Last year, during the same quarter, company reported ($0.08) earnings a share. Company’s revenue was lower by 24.5% compared to the same quarter last year. Analysts are anticipating that company would post $0.05 EPS for the current fiscal year. Nokia Corporation (ADR) (NYSE:NOK) shares were up 1.51% in premarket on Thursday.
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