UPDATE: Societe Generale Upgrades Nokia Corporation to Hold on Share Decline
Societe Generale upgrades its rating on Nokia Corporation (NYSE: NOK) from Sell to Hold as it believes shares no longer look at substantial downside.
Societe Generale noted, "As we have not materially altered our long-term forecasts, we stick to our DCF-based target price of €1.60 (WACC 10%, LT margin 3%, LT growth 3%). As the share price has hugely underperformed recently and is under our target price, we now upgrade our recommendation to Hold from Sell."
Nokia Corporation closed at $1.85 on Thursday.
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