Nokia: stock rallies for a second day after broker comments
(CercleFinance.com) - Nokia shares are rallying for a second day running on Tuesday following positive broker comments on the stock.
This morning New Street Research upgraded its rating to "buy," with a target price of 5.3 euros, seeing a "compelling case" for the stock.
"Sentiment on the name is at a low. The stock's current valuation implies a negative value for wireless, and this presents a deep value opportunity," the independent research house said in a note.
"The environment is supportive, problems are well acknowledged, and management is willing to address them," New Street added, poiting out that the stock has underperformed Ericsson by about 50% over the last four years.
Meanwhile, yesterday Raymond James upgraded Nokia to "strong buy," according to market sources.
Nokia shares were up 0.8% at almost 3.6 euros in morning trading, after jumping 2.8% yesterday.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
This morning New Street Research upgraded its rating to "buy," with a target price of 5.3 euros, seeing a "compelling case" for the stock.
"Sentiment on the name is at a low. The stock's current valuation implies a negative value for wireless, and this presents a deep value opportunity," the independent research house said in a note.
"The environment is supportive, problems are well acknowledged, and management is willing to address them," New Street added, poiting out that the stock has underperformed Ericsson by about 50% over the last four years.
Meanwhile, yesterday Raymond James upgraded Nokia to "strong buy," according to market sources.
Nokia shares were up 0.8% at almost 3.6 euros in morning trading, after jumping 2.8% yesterday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.