UPDATE: Swedbank Downgrades Nokia on Excessive Share Price Gains

In a report published on Tuesday, Swedbank analyst Håkan Wranne downgraded Nokia NOK to Neutral (Buy) and maintained a price target of $3.86 (3 Eur). In the report, Swedbank noted, "Following the acquisition of Siemens' 50% stake in NSN, Nokia has reached and exceeded our EUR 3.0 target price. We therefore downgrade the stock to Neutral (Buy). At the current share price, Nokia needs to deliver a decent report in order to avoid a sell-off of the stock, but signals have been mixed. Continued M&A speculation should work as a cushion.". Nokia closed on Monday at $4.13.