Nokia May Get Boost From Global Handset Growth

UBS Investment Research raised the price target and earnings estimates for Nokia after the company raised its global handset industry growth estimate for 2006 to 15% from 10%.

“We continue to expect upside to global units, predominantly driven by emerging markets,” wrote analyst Maynard Um in a report Monday.

Um consequently raised his 2006 and 2007 global handset unit estimates for Nokia – to 915 million and 1 billion, respectively, from 881 million and 949 million.

The analyst increased the price target for Nokia to $24.30 from $23.10, to reflect his new 2007 earnings-per-share estimate of $1.51, up from $1.46.

He maintained a “buy” rating on Nokia, expecting the financial benefit from an improving product portfolio to be more visible in the second half of 2006.

Tags: Nokia

This entry was posted on April 05th, 2006 and is filed under Brands. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or Trackback from your own site.