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UPDATE: Barclays Downgrades Nokia to Underweight; Pre-Announcement Upside is Temporary

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Barclays downgraded Nokia Corporation (NYSE: NOK) from Equal-weight to Underweight.

Barclays noted, "We consider Lumia volumes as the principle driver of Nokia's recovery, however Nokia's positive pre-announcement last week was driven by opex cuts and strength at Nokia Siemens. We consider both to be more temporary than permanent, and do not see a sufficient inflection in Lumia units to merit recent share appreciation."

Nokia closed at $4.70 on Friday.

Latest Ratings for NOK

DateFirmActionFromTo
May 2016CLSAUpgradesUnderperformOutperform
May 2016Canaccord GenuityUpgradesHoldBuy
May 2016Bank of AmericaUpgradesNeutralBuy

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Posted-In: BarclaysAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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