Nokia's Rally May Be Over as Analysts Tell Investors to Take Profits

Grupo Santander analyst Carlos Trevino downgraded Nokia (NYSE:NOK) to Underperform from Outperform and set a price target of EUR 6.85. Trevino signaled the telecom equipment rally has run its course; this analyst downgrade should weigh on Nokia shares near term but is unlikely to move broader markets.

Analysis

Grupo Santander analyst Carlos Trevino downgraded Nokia (NYSE:NOK) to Underperform from Outperform and set a price target of EUR 6.85. Trevino signaled the telecom equipment rally has run its course; this analyst downgrade should weigh on Nokia shares near term but is unlikely to move broader markets.