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Morgan Stanley upgrades Nokia while Barclays downgrades France Telecom and Telefonica

September 7, 2010 2:42 PM GMT

Morgan Stanley raised its rating to Nokia Corp. by two notches and picked up its price target from 6.50 euros to 9 euros.

On the other hand, Barclays downgraded ratings of France Telecom to underweight from equal weight on pressure over pricing of local fixed line business. Barclays also downgraded rating of Telefonica to equal weight from overweight after the recent vigorous equity price performance.

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