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MKM Says 'Aggressively' Load Up on Nokia Shorts Following Rally

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MKM Partners' Micahel Genovese told investors to use strong performance in Nokia (NYSE: NOK) over the last two trading sessions to "aggressively" load up on shorts.

Genovese believes Nokia's positive Q4 guidance given on Thursday morning demonstrate a loss of market share in the Windows Phone ecosystem. The analyst believes this trend will continue.

MKM maintains a Sell rating and $2.50 price target on shares of Nokia.

Latest Ratings for NOK

DateFirmActionFromTo
Jan 2015Goldman SachsReinstatesBuy
Nov 2014Raymond JamesDowngradesMarket PerformUnderperform
Sep 2014Canaccord GenuityMaintainsBuy

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