Nokia Upgraded at Canaccord; Intellectual Property Licensing Creates Long-Term Upside Potential

Canaccord upgraded shares of Nokia (NYSE: NOK ) from Hold to Buy on Monday and raised the price target from $8 to $10. Michael Walkley, analyst at Canaccord, used a sum-of-parts analysis of intellectual property rights to reach his $10 price target. Walkley believes Nokia's 2014 licensing revenue guidance of