Nokia (NOK) Beats Expectations on Fixed Networks - Craig-Hallum

Craig-Hallum analyst Christian Schwab reiterated a Buy rating and $8.00 price target on Nokia (NYSE: NOK) after the company reported better than expected Q2 results and raised its full year 2021 outlook.

The analyst stated "The company saw particular strength in fixed networks with a robust demand backdrop, as well as sequential growth in mobile networks and cloud services. The company now expects its operating margins for the year in a range of 10%-12% (7%-10% previously) with strong execution while still expecting to face headwinds through the year outlined previously, including market share loss at Verizon and price pressure in North America. In addition, management reiterated plans to continue to increase investments in R&D to ensure 5G technology leadership. The company continues to make progress refreshing its 5G products with 54% of the portfolio now powered by their ReefShark SoC, on the way to targets of 70% by year-end and 100% by the end of 2022."

For an analyst ratings summary and ratings history on Nokia click here. For more ratings news on Nokia click here.

Shares of Nokia closed at $6.05 yesterday.

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