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Nokia: catalysts not on the radar yet, Bernstein says.

(CercleFinance.com) - Bernstein maintains its "outperform" rating on the Nokia stock, following an "eventful" third quarter earnings reports from the Finnish telecom equipment maker.

The brokerage firm maintains its 4.2 euro target price on the stock, while acknowledging that sentiment is low and that the next catalyst - revenue recovery - isn't on the radar screen yet.

"The stock, already pricing in the restructuring, will need tangible signs of a recovery in revenues to work," the broker writes in a research note dedicated to the industry.

"The near-term may be challenging, with tough compares in the first half," it also warns.

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