ABG Sundal Collier Reaffirms Buy on Nokia Corporation; Trades on Discount to Book Value
ABG Sundal Collier remains Buy-rated on Nokia Corporation (NYSE: NOK) as shares look to asset disposal for a near-term bounce.
ABG Sundal Collier comments, "At this stage, we appear to be less pessimistic on the struggling company's ability to weather the storm without ‘burning through cash' or shareholders' equity. Substantial gains from asset disposals could represent the next step in the journey, which could mitigate concerns surrounding the balance sheet and the cost of servicing debt."
NOK closed at $2.54 on Tuesday.
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