Vetr Inc. Upgrades Nokia Corporation (NYSE:NOK) to “Strong-Buy”

Vetr upgraded shares of Nokia Corporation (NYSE:NOK) from a buy rating to a strong-buy rating in a research report report published on Friday, July 14th. The firm currently has $7.28 target price on the technology company’s stock.

Several other equities research analysts have also commented on NOK. Bank of America Corporation reiterated a neutral rating on shares of Nokia Corporation in a research note on Friday, June 2nd. BMO Capital Markets reiterated a market perform rating on shares of Nokia Corporation in a research note on Friday, June 16th. Citigroup Inc. began coverage on shares of Nokia Corporation in a research note on Thursday, June 8th. They issued a neutral rating and a $6.00 price objective for the company. Wells Fargo & Company reiterated a market perform rating on shares of Nokia Corporation in a research note on Friday, June 16th. Finally, BidaskClub lowered shares of Nokia Corporation from a buy rating to a hold rating in a research note on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $6.24.

Shares of Nokia Corporation (NYSE:NOK) opened at 6.26 on Friday. The company’s market cap is $35.38 billion. The company’s 50-day moving average price is $6.31 and its 200 day moving average price is $5.76. Nokia Corporation has a 52 week low of $4.04 and a 52 week high of $6.65.

Nokia Corporation (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The firm had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.64 billion. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 8.20%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. On average, equities analysts forecast that Nokia Corporation will post $0.29 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. Cutter & CO Brokerage Inc. increased its stake in Nokia Corporation by 14.6% in the first quarter. Cutter & CO Brokerage Inc. now owns 21,192 shares of the technology company’s stock worth $115,000 after buying an additional 2,700 shares in the last quarter. Smithbridge Asset Management Inc. DE acquired a new stake in Nokia Corporation during the second quarter valued at $119,000. Geneva Advisors LLC acquired a new stake in Nokia Corporation during the second quarter valued at $125,000. Chevy Chase Trust Holdings Inc. acquired a new stake in Nokia Corporation during the first quarter valued at $136,000. Finally, Searle & CO. acquired a new stake in Nokia Corporation during the fourth quarter valued at $145,000. 5.91% of the stock is owned by institutional investors.

Nokia Corporation Company Profile

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.

To view Vetr’s full report, visit Vetr’s official website.

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