Canaccord Top Analyst Comments on Nokia Corp (ADR) (NOK) Following Second Quarter Results

Canaccord’s top analyst Michael Walkley weighed in with some commentary on Nokia Corp (ADR) (NYSE:NOK), as the telecom-equipment maker reported second-quarter revenue slightly below consensus, as continued challenges in mobile networks impacted results along with discontinuing the sale of Cisco routers in the IP Networks division.

Walkley wrote, “While the Networks division operating margin for Q2 was below our/Street expectations at 5.8%, we are encouraged by management narrowing the guidance range for the full year to 7-9%. We believe Nokia management has a strong track record of operational excellence and will continue its strong execution on cost-cutting initiatives following the Alcatel Lucent acquisition. Further, we believe the technology licensing business can also create a source of high margin growth. Longer term, we believe the management team has a cogent plan to integrate Alcatel-Lucent to create a strong technology leadership culture while also achieving its recently increased €1.2B cost synergy target by 2018.”

Walkley reiterated a Buy rating on shares of Nokia with a price target of $7.00, which represents a potential upside of 28% from where the stock is currently trading.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Michael Walkley has a yearly average return of 14.9% and a 59.5% success rate. Walkley has a -5.4% average return when recommending NOK, and is ranked #25 out of 4090 analysts.

Out of the 17 analysts polled by TipRanks, 13 rate Nokia Corp stock a Buy, while 4 rate the stock a Hold. With a return potential of 41.3%, the stock’s consensus target price stands at $7.74.

Recommended Article: BMO Capital Reiterates Outperform on Nokia Following Patent Licensing Deal Expansion With Samsung


Stay Ahead of Everyone Else

Get The Latest Stock News Alerts