Nokia (NOK) Stock Climbing on Expanded Samsung Deal
NEW YORK (TheStreet) -- Shares of Nokia (NOK) - Get Report are up 5.37% to $5.89 today after the company reached an expanded patent cross license agreement with Samsung (SSNLF).
The agreement grants each company expanded access to the other's patented technologies and "reinforces Nokia's leadership in technologies for the programmable world," the company said in a statement.
Nokia expects the deal to positively affect sales in the third quarter of 2016.
Analysts at BMO Capital Markets said that the deal is a "meaningful positive" for the Finland-based mobile company.
The firm has an "outperform" rating and a $7 price target on the stock.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins.
However, TheStreet Ratings also finds weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income.
You can view the full analysis from the report here: NOK
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.