Hudson Maintains Buy on Nokia (NOK)

Hudson is out with its report on Nokia (NYSE: NOK), maintaining Buy in the lead up to NOK's Analyst Day.

In a note to clients, Hudson writes, "The company is expected to give full year guidance and an industry outlook. For 2011, we have revenue, margins and EPS trending upwards on a sequential basis as the company regains its presence in the high end. However, these estimates are fluid based on management's discussion at the meeting. We maintain our Buy rating and $12.00 price target, which is based on 14X 2011 EPS of $0.85, at the low end of its historical P/E."

At the time of posting, shares of NOK were trading at $11.10, down 5.41% from Wednesday's close.