Boosted by recent news of Lumia 920 getting sold out in nearly all the major markets and reports of 2.5 million Lumia 920 bookings in mere 20 days, analysts have started upgrading Nokia’s ratings. Now, Liberum has upgraded Nokia to buy and has raised its price target from EUR 2.50 to EUR 3.50.

They also note that early demand suggests sales of the Lumia 920 will be between 3-3.5 million in the fourth quarter. This is well ahead of very low market expectations, the analyst notes. The analyst said sales may grow further next year given initial traction with consumers.

Good to see the market regaining faith in Nokia !!