Nokia upgraded to neutral at CSFB on margin view (NOK)
Enviado: 16/9/2004 9:273:54am 09/16/04
Nokia upgraded to neutral at CSFB on margin view (NOK)
By Steve Goldstein
LONDON (CBS.MW) -- Handset maker Nokia (NOK) was upgraded to neutral from underperform by Credit Suisse First Boston, with the broker lowering its view of global mobile phone sales in 2005 but upping Nokia's margin projections. "Despite our conservatism on volume growth, our new analysis of industry profitability, based on looking at bill of material advantage in WCDMA (where we note the company has a 20-40 percent design advantage), per unit cost analysis of vendors, and through-cycle margins, all suggests Nokia's economies of scale remain unrivalled, even if slightly diminished, relative to history," the broker said. Nokia shares rose 0.6 percent in Helsinki.
Nokia upgraded to neutral at CSFB on margin view (NOK)
By Steve Goldstein
LONDON (CBS.MW) -- Handset maker Nokia (NOK) was upgraded to neutral from underperform by Credit Suisse First Boston, with the broker lowering its view of global mobile phone sales in 2005 but upping Nokia's margin projections. "Despite our conservatism on volume growth, our new analysis of industry profitability, based on looking at bill of material advantage in WCDMA (where we note the company has a 20-40 percent design advantage), per unit cost analysis of vendors, and through-cycle margins, all suggests Nokia's economies of scale remain unrivalled, even if slightly diminished, relative to history," the broker said. Nokia shares rose 0.6 percent in Helsinki.