Cowen Upgrades Nokia (NOK) to Outperform; Upward Trajectory 'Now Clear'
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Cowen analyst Paul Silverstein upgraded Nokia (NYSE: NOK) from Market Perform to Outperform with a price target of $8.00 (from $5.00).
The analyst commented, "Post 2Q21 results, we are raising our estimates, PT and rating to Outperform. Demand environment continues to be very favorable. What has changed is NOK’s improving execution - we think upward trajectory is now clear and we expect meaningful incremental improvement from here, which, while helping drive incremental revenue growth, should especially help margin structure and thereby EPS and cash flow."
Shares of Nokia closed at $6.05 yesterday.
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