Nokia (NYSE:NOK): Oppenheimer has downgraded Nokia to Underperform from Perform, citing accelerating smartphone competition, potential for moderating margins, and rising interest expenses. The firm adds that it believes Nokia’s smartphone business is at risk.
Alcatel-Lucent (NYSE:ALU): Raymond James has upgraded Alcatel-Lucent based on improved U.S. wireless capex, restructuring plans, and increased visibility regarding the timing of 4G spectrum licenses in China. The firm now rates the stock at Strong Buy up from Outperform and has a price target of $3.50.
Saks (NYSE:SKS): Maxim views its $18.50 price target for Saks as the minimum the company should receive in a buyout given its unique market position. The firm thinks a bidding war could play out after The New York Post reported that Starwood Capital Group has joined Hudson Bay Co. in bidding for the retailer.
Celgene (NASDAQ:CELG): RBC Capital thinks that Celgene will report in line second-quarter results but predicts that the company will raise its earnings per share guidance by 5 cents to 10 cents, and that the stock will trade up on the results and guidance. It keeps an Outperform rating on the shares.