Nokia: A Growth Stock Again?

Nokia (NOK) will become a growth stockagain, Deutsche Bank analyst Kai Korschel t declares in a research note this morning. Korscheldt today upped his rating on the stock to Buy from Hold, with a new price target of 14 euros (about $19.17) up from 10 Euros (or $13.69.) He asserts that 2009 estimates for Nokia appear to be bottoming, and that a refreshed handset portfolio should allow market share to stabilize or improve. “A modest macro recovery and replacement buys should underwrite handset market growth next year,” he adds. The analyst also contends that China and India together potentially double the worlwide handset market in the long run, a factor he believes the current P/E on the shares ignores. NOK today is up 30 cents, or 2%, to $15.52. (link)