Nokia "overweight"

06/16/05 - Prudential Financial

NEW YORK, June 16 (newratings.com) - Analyst Inder Singh of Prudential Financial maintains his "overweight" rating on Nokia Corporation (NOK). The target price is set to $20.

In a research note published this morning, the analyst mentions that the company expects to sell a total of 50 million WCDMA units during 2005. The analyst expects Nokia's 6630 model to be priced below €200. The company has signed a partnership deal with Avaya in order to expand its market penetration and product expertise, Prudential Financial adds.