Nokia: Bernstein Cuts Target to $1.56; Little Hope for Lumia
Bernstein Research’s Pierre Ferragu this morning reiterates an Underperform rating on shares of Nokia (NOK), while cutting his price target to $1.56, after slashing his estimates for the year, writing that pressure on its sales “could accelerate with an increasing sub $100 competition.” Ferragu estimates that the company’s “Lumia” phones, developed with Microsoft (MSFT), sold [...]
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