RBC analyst upgrades Nokia

Nokia’s share price slumped more than 50% since it announced that it was transitioning to Windows Phone 7 from Symbian.

That may however represent a great deal for investors willing to get in at the bottom, with RBC analyst Mark Sue upgrading Nokia to an Outperform rating and setting a price target of $9, significantly higher than the current price of $5.92.

”Nokia may be seeing better trends for its dual-SIM devices and less of a decline in its traditional Symbian devices than originally expected,” Sue wrote. “Feedback on Nokia’s new Windows device may be encouraging and we expect Nokia to launch on schedule before the holiday season.”

Mark expected the first Nokia WP7 handset to launch at Nokia World in October.

Via BGR.com

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