STOCKWATCH Nokia estimates, rating trimmed by brokers after Ericsson warning

LONDON (AFX) - Nokia Corp has had its 2001 EPS estimates trimmed by Deutsche Bank to 0.86 eur from 0.90 while BNP Paribas downgraded the stock to 'neutral' from 'outperform' and cut its price target to 30 eur from 48, dealers said. Yesterday, rival Scandinavian mobile phones group Ericsson issued a first quarter profit warning. The company said it now expects to make a 4-5 bln skr pretax loss in the first quarter, compared with a previous forecast of breakeven. Analysts at Deutsche Bank argue that the market is already assuming a profit warning from Nokia. If the warning occurs, it will have to be within the next two days, the broker said. However, if no profits warning materialises, Nokia will become of the few stable stocks in the sector according to the analysts at the German brokerage. HSBC Securities repeated its 'hold' rating on the stock. At 10.28 am in Helsinki, Nokia shares were 0.59 eur lower, or 2.52 pct, at 22.83. The stock, however, is outperforming the technology sector of the Dow Jones STOXX index which was 3.15 pct down at 470.95.

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