Bank of America Analysts Begin Coverage on Nokia (NOK)

By admin | 6 years ago

Equities research analysts at Bank of America (NYSE: BAC) started coverage on shares of Nokia (NYSE: NOK) in a research note issued to investors on Friday. The firm set an “underperform” rating on the stock.

NOK has been the subject of a number of other recent research reports. Analysts at Caris & Company downgraded shares of Nokia from a “buy” rating to an “average” rating in a research note to investors on Wednesday, May 9th. They now have a $39.00 price target on the stock. Separately, analysts at Capstone downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research note to investors on Thursday, May 3rd. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated an “underperform” rating on shares of Nokia in a research note to investors on Tuesday, May 1st. They now have a $3.25 price target on the stock.

Nokia opened at 3.0487 on Friday. Nokia has a 1-year low of $3.54 and a 1-year high of $9.38. The company’s market cap is $11.313 billion.

Nokia last released its earnings data on Thursday, April 19th. The company reported ($0.08) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.07) by $0.01. Nokia’s revenue was down 29.3% compared to the same quarter last year. Analysts expect that Nokia will post $-0.05 EPS next quarter.

Nokia Oyj (Nokia) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.

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