Nokia Corporation (NOK)

[Eric]

Analysts React to Warning ...

We'll see several ratings changes and changes in price targets for Nokia (NOK/NOKIV) by financial analysts over the next several days and out into next week. Here are some of the initial reactions abstracted from articles in the financial press:

• Barclays Capital: Price Target cut to $10.00 from $12.00. Maintain 2-Equal Weight rating.

• Charter Equity (Ed Snyder): "Shares will plunge well below recession lows. ... Absent a major change in strategy we see little hope for upside." Downgrades to 'Market Underperform' from 'Buy' rating.

• Cheuvreux: Price target cut to €6.9 from €9. Maintain "Underperform" rating.

• Goldman Sachs: Price Target cut to €7.70 from €10.50, Maintain "Neutral" rating.

• HSBC: Price Target cut to €9 from €11. Maintain "Neutral" rating.

• Morgan Stanley: Price target cut to €7 from €8. Maintain "Underweight" rating

• Royal Bank of Scotland (RBS): Price Target cut to €6.70 from €9.50. Maintain "Hold" rating.

• Sydbank: "Nokia still attractively priced. New mobile phones in the high-end segment are expected to strengthen its position." Maintains "Overweight" rating.

• UBS: Price Target cut to €7.20 from €11.80. Downgraded to "Neutral" from "Buy" rating.

Articles:

• Nokia: UBS Downgrades After Warning (Barron's)

http://3dln.sl.pt

• Nokia: Charter’s Snyder, Long-Time Bull, Throws In The Towel (Barron's)

http://3dln.sl.pt

• Nokia’s Target, Estimates Cut at Barclays Capital

http://3dma.sl.pt

Other Sources for Above:

• TMC.net via Nordic Business Report:

http://www.tmcnet.com/usubmit/2010/06/17/4852774.htm

• Reuters (Helsinki) Tarmo Virki

http://www.reuters.com/article/idUSTRE65G10U20100617

• MarketWatch (London) Steve Goldstein & Aude Lagorce

http://3djl.sl.pt

- Eric -