Nokia Downgraded to Underperform at Merrill Lynch (NOK)
Nokia (NYSE:NOK) was downgraded by analysts at Merrill Lynch from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, AmericanBankingNews.com reports. They currently have a $20.00 target price on the stock. Merrill Lynch’s price target would indicate a potential upside of 172.11% from the company’s current price.
Shares of Nokia (NYSE:NOK) traded up 2.80% on Tuesday, hitting $7.35. 65,393,232 shares of the company’s stock traded hands. Nokia has a 1-year low of $2.27 and a 1-year high of $6.47. The stock has a 50-day moving average of $4.48 and a 200-day moving average of $3.82. The company’s market cap is $27.285 billion.
A number of other analysts have also recently weighed in on NOK. Analysts at Monness Crespi & Hardt upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $60.00 price target on the stock. Separately, analysts at Santander downgraded shares of Nokia from a “buy” rating to an “underweight” rating in a research note to investors on Tuesday. Finally, analysts at Nordea Equity Research downgraded shares of Nokia from a “buy” rating to a “sell” rating in a research note to investors on Tuesday. Eight research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $10.47.
Nokia Corporation (NYSE:NOK) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.
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