As part of an analyst coverage transfer, Raymond James has upgraded Nokia (NOK +1.5%) to Market Perform.
RJ downgraded Nokia to Underperform on January 14, after upgrading shares on September 4 following the Microsoft deal. Shares have largely tread water since the downgrade.
Its latest move comes a month after Jefferies upgraded Nokia to Buy on hopes of improved IP monetization, and David Einhorn disclosed a 3.5M-share position.