While European stock markets are soaring, Nokia registered only a modest rise Monday and underperforms technological compartment in response to a target reduction at UBS.
The broker said this morning have reduced its price target the value of 7.7 to 7.2 euros, while reiterating its buy advice.
Around 16:30, the action of the telecoms equipment advance of 1.4% to 5.3 euros on the Helsinki Nasdaq and Euronext Paris while at the same time the STOXX Europe 600 Optimised Technology gained 2.8%.
In a note, UBS regrets that Nokia has announced a further decline in sales in the 4th quarter (-12%) while it expected a stabilization of activity of the Finnish group.
If it deplores this lack of revenue stability, however broker believes that the share price currently includes too pessimistic forecasts on growth, that is to say, synonymous stable profit margins of any synergy with Alcatel-Lucent.
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