Nokia Shrs Could More Than Double in Long Term, Oppenheimer Says
2014-09-15 12:51:35.97 GMT
By Sam Chambers
Sept. 15 (Bloomberg) -- Nokia can unlock further value in
2015 through its HERE unit as well as its patents business, and
ADRs could reach ~$18 (~115% upside) in the L/T, Oppenheimer
says.
* Oppenheimer: HERE unit to benefit from auto demand, where
avg. selling prices may rise as more connected cars are
manufactured
* Post the sale of its devices business, Nokia should be
able to better monetize its patents as it won’t have to
cross license them
* As the “new Nokia” takes shape in the S/T, co’s shrs
may be volatile
* Raises co’s ADRs to outperform and sets a PT of $12
(~43% upside to Friday’s close)
* NOTE: Nokia ADRs up ~1.7% pre-mkt with ~550k shrs traded
* NOTE: Nokia’s ADRs have 7 buys, 14 holds and 1 sell with
avg. PT $8.84
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To contact the reporter on this story:
Sam Chambers in London at +44-20-7673-2021 or
schambers7@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2014-09-15 12:51:35.97 GMT
By Sam Chambers
Sept. 15 (Bloomberg) -- Nokia can unlock further value in
2015 through its HERE unit as well as its patents business, and
ADRs could reach ~$18 (~115% upside) in the L/T, Oppenheimer
says.
* Oppenheimer: HERE unit to benefit from auto demand, where
avg. selling prices may rise as more connected cars are
manufactured
* Post the sale of its devices business, Nokia should be
able to better monetize its patents as it won’t have to
cross license them
* As the “new Nokia” takes shape in the S/T, co’s shrs
may be volatile
* Raises co’s ADRs to outperform and sets a PT of $12
(~43% upside to Friday’s close)
* NOTE: Nokia ADRs up ~1.7% pre-mkt with ~550k shrs traded
* NOTE: Nokia’s ADRs have 7 buys, 14 holds and 1 sell with
avg. PT $8.84
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Sam Chambers in London at +44-20-7673-2021 or
schambers7@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net