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Fly News Breaks for October 25, 2019
NOK
Oct 25, 2019 | 07:42 EDT
JPMorgan analyst Sandeep Deshpande downgraded Nokia to Neutral from Overweight with a price target of $4.20, down from $7.50. The analyst also removed Nokia from his firm's Analyst Focus List. Nokia cut its 2020 margin guidance to 9.5%, but the dividend "pause" when the cash flow was showing signs of turning around is more worrisome, as it raises the question of signalling, Deshpande tells investors in a research note. He cites a lack of clarity and inconsistent execution for the downgrade.
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