UPDATE: BMO Capital Upgrades Nokia (NOK) to Outperform

(updated to correct price target)

BMO Capital analyst Tim Long upgraded Nokia (NYSE: NOK) from Market Perform to Outperform with a price target of $7.50 (from $5.00).

The analyst comments "The telco spending environment has been improving, and we believe Nokia is well positioned to take advantage of this dynamic in 2019, particularly as 5G begins to take shape. We also believe the recent Huawei controversy may free up billions in telco capex that NOK can seize upon."

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 $5.74 yesterday.

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