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Shares of Nokia Upgraded – A Sign of Things Ahead?

January 16, 2007 in Wireless Industry News

A Goldman Sachs analyst today upgraded shares of Nokia Corp. (NYSE: NOK) on expectations of strong fourth quarter earnings.

Shares of Nokia were upgraded today by Goldman Sachs.

Shares of Nokia were upgraded today by Goldman Sachs.

Shares of Nokia are down about 4% this year – while that doesn’t seem like much compared to say, Motorola’s rise and fall, the stock has been doing absolutely squat lately.

The analyst also remarked that Nokia is currently in a “perfect storm of negative newsflow,” meaning just about everything that could be going badly for Nokia IS going badly. We’re talking about iPhones, Motorola’s profit warnings, etc.

Nokia definitely has a pretty strong product offering this year (compared to last), with some big phones shipping this year: the N95, N93i, and N76.

Shares of Nokia rose almost 2% in trading after the news.

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