MARKET TALK: Nordea Upgrades Nokia To Strong Buy From Buy
Last update: 2/15/2013 7:50:46 AM
1250 GMT [Dow Jones] Nordea upgrades Nokia (NOK) to strong buy from buy, ahead of expected product launches at the Mobile World Congress in Barcelona [Feb 25-28]. Notes shares have taken a beating since Nokia's better-than-expected 4Q report [Jan 24], with investors concerned about the "brisk BB10 launch by RIM" as well as ongoing delivery problems for Nokia's Lumia 920 flagship device. While the Lumia 920 still suffers from bottlenecks, the situation should improve in 1Q thanks to better availability of other Lumia devices, says Nordea. Keeps its EUR4 target price. Shares trade 2.7% higher at EUR3.014.