Updated from 8:05 a.m. EST

Nokia ( NOK) was upgraded by Goldman Sachs to buy from hold on Tuesday.

Shares of the cell-phone giant were rising 1.4% to $19.77 in premarket trading.

The stock has stayed in a tight range during the past 52 weeks, going from a low of $17.65 to a high of $23.47.

Nokia was added to Goldman's conviction buy list, and at the same time, the firm removed Alcatel-Lucent ( ALU) from the list. Alcatel-Lucent was down 1.2% at $14.81.

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