Nokia "buy"

05/25/05 - Banc of America

NEW YORK, May 25 (newratings.com) - Analyst Tim Long of Banc of America Securities reiterates his "buy" rating on Nokia (NOK). The target price is set to $23.

In a research note published yesterday, the analyst mentions that the company is expected to post 5% q/q growth in its unit sales for the June quarter. Nokia is likely to witness higher-than-expected net additions during the quarter due to strengthening demand in Russia, Latin America and China, the analyst says. The company is also expected to benefit in the near term from its impressive product portfolio and the favourable channel inventory trends.