Nokia Shares Rally as Credit Suisse Adds to Euro/US Focus Lists

On Friday, Credit Suisse added Nokia

to the European/US focus lists. Analyst Kulbinder Garcha sees a “new equity story emerging around robust bottom-line growth and margin expansion.” Garcha believes Nokia's Advanced Technologies business revenues “could more than double to Eu1.5bn...primarily driven by Samsung and Apple renegotiations.” 14 percent of Nokia's market cap could be returned to shareholders, according to Garcha. Garcha reiterated his Outperform rating and $9.45 price target on shares of Nokia. The stock is up 2.8 percent at last check, recently breaking through the $8 level.