UPDATE: Raymond James Upgrades Nokia (NOK) to Outperform

March 14, 2022 4:51 AM EDT
Get Alerts NOK Hot Sheet
Price: $4.42 -2%

Rating Summary:
    23 Buy, 15 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 9 | New: 24
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(Updated - March 14, 2022 5:33 AM EDT)

Raymond James analyst Simon Leopold upgraded Nokia (NYSE: NOK) from Market Perform to Outperform with a price target of $6.50.

The analyst comments "We upgrade Nokia to Outperform (from Market Perform) based on its improving competitive position and market opportunities that exceed expectations. We believe Nokia’s business has inflected and management has made progress rebuilding its credibility. We consider the recent share repurchases and likely re-introduction of a dividend great signals regarding management’s confidence, yet low valuation multiples demonstrate investor skepticism. We envision strength in the Fixed Access and Routing segments and potential optionality in Optical and Mobility. Following recent discussions with management and industry checks, we have adjusted our estimates and establish a $6.50 target."

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 $4.81 yesterday.

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