| crazy_coco |
19-04-2004 14:44 |
NOK downgraded at Pru, UBS 14.61: Prudential downgrades Nokia to Underweight from Overweight based on intensifying competition and a lack of visibility in the co's core mobile handset business. There have been recent product missteps, increased competition, and increased branding competition from wireless carriers. The firm reduces its FY04 rev estimate to $28.7B from $31.7B and lowers its FY04 EPS estimate to $0.64 from $0.84...
UBS downgrades Nokia to Neutral from Buy. Despite the stock likely being close to the bottom of its trading range, there is insufficient visibility to the success of anticipated product launches and the duration of margin compression in the interim. While the co has been in this position before, the recovery this time could prove more difficult....
JP Morgan believes that Nokia is not simply losing share to Samsung at the high end but is also under pressure across its range from Sony Ericsson, Siemens and Motorola. The firm lowers its Mobile Phones unit operating margins estimate to 20% in Q2 from 25% in Q1. The firm reduces its 2004 EPS estimate by 13%.
8:42 NOK pre market 15.04 $ +2.94
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