Nokia Corp. (NOK) Stock Rating Reaffirmed by Credit Suisse Group AG
Nokia Corp. (NYSE:NOK)‘s stock had its “outperform” rating reaffirmed by equities researchers at Credit Suisse Group AG in a research note issued on Tuesday. They currently have a $60.00 price target on the technology company’s stock.
Several other research analysts have also weighed in on the stock. Bank of America Corp. lowered shares of Nokia Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday. Wells Fargo & Co. reissued a “hold” rating and set a $4.75 price objective on shares of Nokia Corp. in a research note on Thursday, November 10th. Zacks Investment Research upgraded shares of Nokia Corp. from a “sell” rating to a “hold” rating in a report on Monday, October 31st. Canaccord Genuity restated a “buy” rating and set a $5.50 target price (down from $6.00) on shares of Nokia Corp. in a report on Friday, October 28th. Finally, Exane BNP Paribas downgraded shares of Nokia Corp. from an “outperform” rating to a “neutral” rating in a report on Friday, October 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $9.91.
Shares of Nokia Corp. (NYSE:NOK) opened at 4.12 on Tuesday. Nokia Corp. has a 12-month low of $4.04 and a 12-month high of $7.55. The company has a market capitalization of $23.78 billion, a P/E ratio of 50.24 and a beta of 1.51. The company’s 50 day moving average is $4.93 and its 200 day moving average is $5.43.
Large investors have recently made changes to their positions in the stock. Levin Capital Strategies L.P. acquired a new stake in shares of Nokia Corp. during the second quarter worth about $91,405,000. Brandes Investment Partners LP bought a new position in Nokia Corp. during the second quarter worth approximately $55,182,000. Emerald Acquisition Ltd. increased its position in Nokia Corp. by 102.5% in the third quarter. Emerald Acquisition Ltd. now owns 10,820,534 shares of the technology company’s stock worth $62,650,000 after buying an additional 5,478,149 shares during the period. Bowen Hanes & Co. Inc. increased its position in Nokia Corp. by 8,371.1% in the second quarter. Bowen Hanes & Co. Inc. now owns 3,303,735 shares of the technology company’s stock worth $18,798,000 after buying an additional 3,264,735 shares during the period. Finally, Teachers Advisors LLC increased its position in Nokia Corp. by 159.2% in the third quarter. Teachers Advisors LLC now owns 4,493,847 shares of the technology company’s stock worth $26,019,000 after buying an additional 2,759,787 shares during the period. 4.34% of the stock is owned by institutional investors.
About Nokia Corp.
Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.
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