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NOK.N

ISIN: US6549022043
SEDOL: 2640891

Rating:

BUY

Target Price:

16.06 USD

Investment Horizon:

6 to 24 months
29th Jan 2010 View Report   Download

4Q 09 News Alert

Nokia Corporation (Nokia) reported robust 4Q 09 results, beating our and consensus estimates. Moreover, Management has reiterated its previous full year guidance. In view of these factors we maintain our current BUY rating for the company. We will reassess the common stock rating and target price for Nokia in our 4Q 09 & FY 2009 update report. We anticipate a positive currency impact on the ADR over our investment horizon. In view of this and our…

15th Jan 2010 View Report   Download

3Q 09 Update Report

Nokia is facing pressure from all fronts. The gap between the company and Samsung in the Western European market, where Nokia ranks first and Samsung second in terms of mobile unit shipment market share, narrowed from 7% in 3Q 08 to 4% in 3Q 09, with Samsung fast gaining ground to command a 31% market share in 3Q 09 Source: IDC. The North American market also remains a sore point, with the company having low single digit smartphone unit market share....

15th Oct 2009 View Report   Download

3Q 09 News Alert

Nokia Corporation (Nokia) reported weak 3Q 09 results, reflecting poor performance from Devices and Services and Nokia Siemens Networks, which pulled down overall performance. Total revenue and net performances during the quarter were below expectations. In view of strengthening competition, we remain concerned regarding the company's competitive position in the mobile devices market and the extent of the impact of Nokia Siemens…

14th Sep 2009 View Report   Download

2Q 09 Update Report

We expect FY 2009 net sales to decline 20.2% y-o-y reflecting a decline in both Device and services and Network segment sales. A y-o-y dip in Average Selling Price, mobile unit market as well as Nokia’s market-share is expected to put pressure on Device and Services sales. Furthermore, loss of marketshare in the products segment of the Networks market, in addition to weakness in the mobile and fixed infrastructure market, is…

17th Jul 2009 View Report   Download

2Q 09 News Alert

Nokia Corporation's (Nokia) 2Q 09 results, although subdued on a y-o-y basis, improved sequentially and outperformed our expectations, primarily on the strength of strong volumes. Moreover, Management's guidance for the mobile device business is consistent with our expectations. We are upgrading the stock from a HOLD to a BUY as we believe the steep fall in the stock price post results has left it undervalued at current levels....