Credit Suisse cut shares of Nokia (NYSE:NOK) from a neutral rating to an underperform rating in a research report sent to investors on Monday morning, ARN reports. The firm currently has $20.00 price target on the stock.
Credit Suisse has also taken action a number of other information technology stocks recently. The firm upgraded shares of Crosstex Energy LP from a neutral rating to an outperform rating. The firm now has a $32.00 price target on that stock, up previously from $22.00. Also, Credit Suisse downgraded shares of Melco Crown Entertainment Limited from an outperform rating to a neutral rating.
Nokia (NYSE:NOK) traded down 0.82% on Monday, hitting $7.29. The stock had a trading volume of 32,597,920 shares. Nokia has a 52 week low of $2.27 and a 52 week high of $6.47. The stock has a 50-day moving average of $4.48 and a 200-day moving average of $3.82. The company’s market cap is $27.062 billion. Nokia also was the recipient of some unusual options trading activity on Tuesday. Investors purchased 36,174 call options on the company. This is an increase of 214% compared to the average volume of 11,510 call options.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. reiterated a positive rating on shares of Nokia in a research note to investors on Tuesday, October 1st. Separately, analysts at HSBC upgraded shares of Nokia from an underweight rating to a neutral rating in a research note to investors on Monday, September 23rd. Finally, analysts at TheStreet upgraded shares of Nokia to a hold rating in a research note to investors on Friday, September 20th. Eight investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $10.47.
Nokia Corporation (NYSE:NOK) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.
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