Originally Posted by
AndreaCristiano While everybody else is doing the exact opposite.
Nokia Downgraded To Equal Weight By Barclays Capital | ValueWalk
Yesterday Societe General released a note to investors that downgraded expectations on Nokia and cut its recommended strategy on the company from Buy to Hold. Today Barclays PLC (ADR) (NYSE:BCS) released a statement doing the same to the company’s stock and setting a new price target of $4 for the company. At the time of writing the company’s stock was rapidly approaching that level. It was down 4.37% to $4.03 and may continue to fall in the final hour of trading. After the company revealed that its lower end phone business was actually losing money some analysts are suggesting they sell it, which to Nokia means selling its entire history. The so called “feature phone” market has been adversely, and obviously, affected by the change to modern smart phones. In the market where feature phones are still popular, poorer and emerging markets, there exist a huge amount of alternatives often with Nokia branding that makes making sales difficult. Counterfeit electronics are big business and with high end smart phones competing there doesn’t seem to be a market for a median priced under featured phone like Nokia’s.