Nokia's (NYSE:NOK) shares are +7.45% at €3.06 in Helsinki and Siemens' are +1.7% premarket in the U.S. following news that Nokia is buying Siemens out of NSN. "With this transaction, Nokia buys itself a future, whatever happens in smartphones and feature phones," Bernstein analyst Pierre Ferragu writes. JP Morgan upgrades Nokia to overweight from underweight and lifts its target price to €3.6 from €2. Regarding Siemens, Morgan Stanley is happy that despite the price being low, the conglomerate "has managed to get this done."