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Friday, August 26, 2011

Nokia (NOK) Remains an "Outperform" at RBC

Saying Nokia (NYSE:NOK) will be strengthened by its dual SIM phones, RBC Capital Markets said today it maintains an "Outperform" rating on the company, with a price target of $9 in place.

According to RBC Capital Markets analyst Mark Sue, units shipped in the current quarter will increase from his prior estimate of 89 million to 100 million, citing the dual SIM phones, which are popular in China and other markets, as the catalyst.

This should help the company during its transition to the Windows Phone 7 operating system, which may be on the first "N9" unit from Nokia when released in October.

In comparison to Symbian, developers are high on the simplicity connected to Mango.

Nokia was trading at $5.88, down $0.01, or 0.25 percent, as of 11:35 AM EDT.

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