ABG Sundal Collier Maintains Hold Rating, Does Not Name PT for Nokia

In an instant comment published earlier today, ABG Sundal Collier ASA maintained its Hold rating for Nokia Corporation (NYSE: NOK), but did not name a price target

ABG went on to say “From the perspective of Nokia's shareholders, it is no longer realistic to assume that the troubled Finnish handset manufacturer would entertain any thoughts of taking any direct part in the acquisition of RIM [Canadian telecommunications company Research In Motion Limited]. Indirect effects, however, may well transpire. If RIM is swallowed by a third party, then the “psychology of association” ought to spark “speculative interest” in holding Nokia's shares – which, in our view, represent at least as much “upside” as “downside” at prevailing market prices at the low end of our fair value range.”

Nokia Corporation closed yesterday at $2.95.