Analysts' Responses to Nokia (NOK) Transition Woes

Nokia (NYSE:NOK), unsurprisingly, experienced several downgrades and a lowering of its price target from analysts, as the company announced it is struggling with its lower-end mobile phone models as it transitions to the Windows Phone 7 platform of Microsoft (NASDAQ:MSFT) for the more profitable smartphone segment.

Wedbush slashed their price target on Nokia Co. (NOK) from $8.50 to $7.00. They have a “neutral” rating on the company.

Sanford C. Bernstein downgraded Nokia Co. from a “market perform” rating to an “underperform” rating.

Canaccord Genuity downgraded Nokia Co. from a “buy” rating to a “hold” rating. They have a price target of $8.00 on the company, down from $11.00.

Goldman Sachs (NYSE:GS) downgraded Nokia Co. from a “buy” rating to a “neutral” rating.

WestLB downgraded Nokia Co. from a “neutral” rating to a “reduce” rating.