UPDATE: SEB Enskilda Upgrades Nokia to Buy on Evidence of Turnaround

SEB Enskilda upgraded Nokia Corporation

from Hold to Buy. SEB Enskilda noted, "Nokia's guidance upgrade on 10 January boosts confidence in the turnaround story. Its Q4 earnings clearly beat expectations on cost savings and better ASP, but Nokia was not able to benefit fully from the Lumia 920 success, due to supply constraints. A better supply situation and regional as well as operator/retailer coverage should create higher Lumia volumes and earnings in the Smart devices segment. On clear signs of a turnaround, after a long and painful transition, we have upgraded our rating from Hold to Buy." Nokia closed at $4.45 on Thursday.