smarteranalyst :Top Analyst Cuts Price Target on Nokia Corp (ADR) (NOK) as Challenging Macro Continues/12:46

Top Analyst Cuts Price Target on Nokia Corp (ADR) (NOK) as Challenging Macro Continues

In a research report published Thursday, Canaccord top analyst Michael Walkley reiterated a Buy rating on shares of nokia/" target="_blank">nokia/" target="_blank">Nokia Corp (ADR) (NYSE:NOK), while reducing the price target to $5.50 (from $6.00), after the company issued cautious outlook for Q4/2016 and 2017, as its total addressable market expected to decline low-single digits in 2017.Walkley commented, "Despite the challenging macro leading to our lowered revenue estimates, strong execution on reducing costs is allowing management to maintain their 2016 UBN operating margin target of 7-9% with strong execution potentially enabling Nokia to achieve results above the mid-point.We believe Nokia management has a strong track record of operational excellence and will continue its strong execution on cost-cutting initiatives following the Alcatel Lucent acquisition.""We believe the technology licensing business can also create a source of high margin growth.

Nokia Corporation (NOKIA) Given a €5.60 Price Target at Goldman Sachs Group Inc.

nokia/" target="_blank">nokia/" target="_blank">Nokia Corporation (HEL:NOKIA) has been given a €5.60 ($6.15) price target by equities research analysts at Goldman Sachs Group Inc. in a research note issued on Friday.The brokerage currently has a a "buy" rating on the stock.Other analysts have also recently issued research reports about the stock.

Nokia Corporation (NOKIA) Given a €5.50 Price Target at S&P Global Inc.

S&P Global Inc. set a €5.50 ($6.04) price target on nokia/" target="_blank">nokia/" target="_blank">Nokia Corporation (HEL:NOKIA) in a research report report published on Thursday.The firm currently has a a buy rating on the stock.NOKIA has been the subject of a number of other reports.