In signs of growing confidence of market in Nokia, Avian Securities and Swedbank has upgraded the Nokia stock to "Buy". Swedbank upgrades Nokia from Neutral to Buy, with a price target of €3. Swedbank notes that Nokia has a net cash position of €1.10 per share and that the position is unlikely to see further erosion.
Nokia shares jumped by 10.1% thereby topping the FTSEurofirst 300's leaderboard. This strong show on the part of Nokia also helped in lifting the overall European equities market. It is thought that this surge is due to the speculation that it could launch new smartphones in early September before rival
Nokia has got some positivity building around itself after 4 million Lumia sales beating estimates and Featurephones doing well. After the share prices hitting a bottom low of 15-years last to last week, the stock has rebounded quite well and is up 44% this week. It is also nice to see publications like "Forbes" recognizing and expressing happiness