HSBC upgraded shares of Nokia (NYSE:NOK) from an underweight rating to a neutral rating in a research note released on Monday morning, TheFlyOnTheWall.com reports.
HSBC has also updated their ratings on a number of other information technology stocks in the last week. The firm upgraded shares of Ryanair Holdings plc from an underweight rating to a neutral rating. Also, HSBC initiated coverage on shares of Melco Crown Entertainment Limited. They issued an overweight rating on that stock and set a $43.00 price target.
Several other analysts have also recently commented on the stock. Analysts at TheStreet upgraded shares of Nokia (NYSE:NOK) to a hold rating in a research note to investors on Friday, September 20th. Separately, analysts at Seb Enskilda upgraded shares of Nokia (NYSE:NOK) to an overweight rating in a research note to investors on Thursday, September 19th. Finally, analysts at Credit Suisse upgraded shares of Nokia (NYSE:NOK) from a neutral rating to an outperform rating in a research note to investors on Wednesday, September 18th.
Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Nokia has a consensus rating of Hold and an average target price of $4.73.
Nokia (NYSE:NOK) opened at 6.58 on Monday. Nokia has a 52 week low of $2.52 and a 52 week high of $6.78. The stock’s 50-day moving average is $4.96 and its 200-day moving average is $3.97. The company’s market cap is $24.426 billion. Nokia also was the target of unusually large options trading activity on Monday. Stock traders bought 15,090 call options on the stock. This represents an increase of 736% compared to the typical daily volume of 1,804 call options.
Nokia Corporation (NYSE:NOK) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.
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