Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

CS First Boston Cuts Nokia to 'Buy'

CS First Boston downgraded Nokia (NOK) to buy from strong buy.

Analyst Jason Babick says his downgrade reflects below consensus views on the wireless equipment market, and the impact on Nokia. He says he believes falling revenue estimates will likely limit an upside in shares. He sees 410 million units global handset build vs. 420 million that came from Nokia's guidance announcement. Babick sees the company's CDMA market share declining over the next few quarters. He maintains his $0.70 2002 EPS estimate, and $0.80 for 2003. He also thinks consensus estimates still are too high. Babick sees a risk to Nokia's second half infrastructure guidance due to 3G revenue recognition issues. He cut his $29 target to $26, and sees medium-term stock weakness.

blog comments powered by Disqus