UPDATE: Bank of America Reiterates on Nokia on Multiple Positive Factors

In a report published Wednesday, Bank of America analyst Didier Scemama reiterated a Buy rating on Nokia NOK, and raised the price target from $7.07 to $9.65. In the report, Bank of America noted, “Our Buy rating is motivated by four key reasons. 1) Post the disposal of D&S to MSFT, the stub appears to be cheap, whilst our bull/bear case analysis suggests a very skewed risk/reward profile. 2) We believe that EBIT margins in NSN are sustainable in the 8-10% range in the medium term. 3) Advanced Technologies could provide meaningful upside to FY14/15e EBIT. 4) Potential reinstatement of a dividend and inclusion in equity indices could broaden the investor base of Nokia.” Nokia Corporation closed on Tuesday at $7.45.